GameStop Surges Over 10%, $860K Call Order and 8% Highs Drive Volume Spike

GameStop Corp. ($GME) experienced a significant surge in its stock price, rising over 10% on June 6, 2024. The increase is partly attributed to a very unusual $860K far out-of-the-money call order, which expires next week, indicating a trader's bet on a potential short squeeze. Additionally, the stock has seen a notable volume spike. GameStop's stock price has risen from $12 to $36, reflecting a bullish sentiment among traders. The stock is currently up 8% at its highs. Prominent investor 'The Roaring Kitty' has also influenced the market, as speculation surrounds his trading activities and potential impact on the stock's future movements, including the need to roll June calls.