The meme stock is making large moves today, in both directions
GameStop Corp (NYSE:GME) stock is having quite the volatile morning, ahead of Roaring Kitty's first YouTube appearance in three years, scheduled for 12pm ET. The company also announced disappointing first-quarter results ahead of the open, as well as an agreement with Jefferies to sell 75 million more shares after already selling 45 million.
Last seen down 5.8% to trade at $43.83, GME has traded as high as $48 and as low as $36.20 already in the first hour today. Trading has halted on and off today, with the stock also on the short sell restricted (SSR) list. The shares are up 108% year-to-date and 69% in the last 12 months.
In the options pits, GameStop has seen 251,000 calls and 121,000 puts exchanged so far, triple the overall volume typically seen at this point. The weekly 6/7 128-strike call is the most popular, followed by the 50-strike call in the same series, with new positions opening at the latter.