GameStop ($GME) Sees Surge in Options Trading with $125 Calls in Focus, 310% Rise in $100 Calls

GameStop ($GME) is experiencing a significant surge in options trading activity. Notably, the net options delta has increased by 1.6 million shares, with a substantial influx of call options. Traders are heavily targeting the $125 calls expiring on June 21st, with volume nearly exceeding the open interest of 17,786 contracts. Additionally, June 1st calls with a $100 strike price have risen by 310%, despite being 120% out of the money, and are trading at a 16% premium with over 2,500 contracts traded. The implied volatility for options expiring tomorrow has surpassed 600%. Furthermore, weekly $128 strike calls expiring tomorrow have seen a surge in activity, with a significant bid to the upside. The $20 calls expiring June 21st, initially filled at $4.60, have peaked at $28.10, marking a 510% gain. June 14th $128 calls have also seen a big bid to the upside. The $20 calls now have an 86 delta, and shares would need to climb more than 170% tomorrow to push the $128 calls into the money.