Unusual Options Activity Spotted On GameStop

X users were abuzz on Tuesday when someone snapped up thousands of GameStop call options set to expire later this month. There is speculation that ‘meme’ stock trader Keith Gill, also known as Roaring Kitty, might be preparing for another pump.

In the overnight hours, options flow platform Unusual Whales posted on X, “This is unusual,” adding, “Someone bought 5,000 GameStop, $GME, $30 calls expiring 07/19.”

Unusual Whales noted that Chewy also saw unusual options activity: “A potential different trader ALSO, around the same time, bought similar $CHWY $30 calls for 7/19.”

We must note that Chewy is a GME CEO Ryan Cohen-linked company.

“These trade sizes are similar to when Roaring Kitty bought $GME and Chewy before,” the options platform wrote on X.

This is unusual.

Today someone bought 5,000 GameStop, $GME, $30 calls expiring 07/19.

A potential different trader ALSO, around the same time, bought similar $CHWY $30 calls for 7/19.

These trade sizes are similar to when Roaring Kitty bought $GME and Chewy before. pic.twitter.com/J1L4kV1q8Y

— unusual_whales (@unusual_whales) July 10, 2024

GME 30 Calls July 19

CHWY 30 Calls July 19

Gill has spent the last two months pumping GameStop while CEO Cohen perfectly timed at-the-market offerings that dumped 75 million shares of its Class A common stock into retail. The company raised about $2.137 billion. In recent weeks, Gill has also pumped Cohen-linked company Chewy, with mounting fears the company could slam the market with an equity offering.

Both GME and CHWY are trading in tight ranges in July.