Volume for gme was low and it closed -4.75%. This is on a day when the market was a blood bath. sp 500 down 4.32%, other companies like amazon -7.06%, apple -5.87%, and meta -9.37%. The volatility index, the vix, went up like crazy. The volume for all those price movement went up significantly for all of those companies except for gme where the volume stayed pretty low.
In the option chain the most aggressive play was a bullish sell of puts expiring this week. Break even for that trade was $29.15.
I held all my positions as I mentioned on a post earlier, I think this is an overreaction of the market that will be short lived.
For GME, I also bought $27.50 calls expiring this week in addition to my shares. I expect a bounce and the fact that the volume was low today makes me feel comfortable with my decision.
Tomorrow is expiration day for the SPY and I expect a reversal of the market, definitely in the short term.$GameStop(GME)$