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GameStop Shares Surge on Options Frenzy as Bullish Bets Hit July Highs
GameStop Shares Surge on Options Frenzy as Bullish Bets Hit July Highs
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BTCCSquare news:
GameStop shares rallied 5.07% to $23.63 in a MOVE fueled entirely by derivatives activity, with call volume spiking to 233,000 contracts—nearly double the 20-day average. The put/call ratio collapsed to 0.1, its most lopsided reading since July, as traders piled into $23.50 and $24 strikes expiring Friday.
No fundamental catalyst drove the surge, underscoring how meme stock dynamics continue to override traditional valuation metrics. The concentration of near-dated bets suggests expectations for immediate upside, though such positioning often precedes violent reversals when gamma exposures unwind.
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