LogFAQs > #951662739

I looked at Market Chameleon again regarding options open interest and I am now seeing put and call open interest reported separately - I didn't see this last week and I'm not sure how I could have missed it so maybe they changed to including this info on their summary page? I don't know, but it does show the gap in open calls between GME and other stocks isn't as big as I thought because GME has about 3 times as many puts as calls, while the other stocks I was comparing to had more calls than puts (in the 2:1 range). Still a ton of open interest on calls in GME though, representing about 100% of the float. As before, probably many of these calls are hedged with other calls.

With the huge number of puts on GME, I think the hedge funds probably switched from shorting the stock to buying puts. Well, the 3/12 puts got wrecked and hopefully the 3/19 will too.

What's concerning is that there is a huge dropoff in the options open interest (both calls and puts) after 3/19 (the biggest expiry date by open interest). Not sure if the stock price will fall without this level of options activity supporting it. My intuition is that even with their greater number, puts shouldn't impact the price as much as calls because you can cover puts with cash; you don't need GME stock.

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September 1, 2003; November 4, 2007; September 2, 2013
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