GameStop Mania Fueled by Record Options and White-Knuckle Shorts
- Over 700,000 calls on GameStop trade Friday as shares surge
- Short-sellers have lost over $1.74 billion on the stock: S3
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Frenetic options trading. A sea of shares sold short. Chat room range wars. Pretty much everything with the potential to slingshot a stock into the stratosphere was at play in GameStop Corp. Friday.
“GameStop is a true animal,” said Steve Sosnick, chief strategist at Interactive Brokers. “It’s a rare convergence of a short squeeze combined with some fundamental news and an army of fast money traders.”