GameStop surges amid bullish options flows

Shares of GameStop are jumping on no news amid elevated options demand that’s got a decidedly bullish tilt.

(Ah, typing that makes me feel younger!)

As of 3 p.m. ET, more than 233,000 call options have changed hands, already 100,000 above their full-day average over the past 20 sessions. And that’s largely one-way traffic: the stock’s put/call ratio is sitting at 0.1, which would be its lowest for a single session since July 21.

Call options that expire this Friday with strike prices of $23.50 and $24 are among the contracts seeing the most activity.

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Southwest sinks on bearish options activity following its third-quarter earnings beat

Southwest’s first full quarter of baggage fees drove it to a revenue record and a profit beat, sending shares higher in after-hours trading on Wednesday. But on Thursday morning, its shares are down more than 5%.

As of 10:50 a.m. ET, more than 31,000 put options in Southwest Airlines have changed hands. That’s already about 50% above its 20-day average for a full session. Thursday’s trading was particularly skewed toward puts, with a put/call ratio of about 3.3 versus Southwest’s 20-day average ratio of less than 1.4.

The bearish options activity coincides with Southwest’s earnings call on Thursday, which apparently isn’t doing much to inspire optimism.

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