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Trader single-handedly manipulates GameStop stock in just a day

Trader single-handedly manipulates GameStop stock in just a day
Elmaz Sabovic

A single trader’s effect on the stock market is often underestimated, with numerous cases leading to significant losses or gains that speak otherwise. 

GameStop (NYSE: GME) stock is a prime example of how a single well-placed order can change sentiment at the right time. After Roaring Kitty, who led millions of traders in the fight against institutional shorts on GME stock in 2021, a single trader seemingly carried on the tradition, albeit differently.

With a $4.8 million June 21 call at the ask investment, an unknown trader on May 20 turned the whole GME options sentiment bullish.

GME stock call options on May 20. Source: Unusual Whales
GME stock call options on May 20. Source: Unusual Whales

This occurrence bolsters the argument that options are strong, influence market movements, and significantly impact a single stock’s price.

Trader managed to eke out a significant gain in GME stock

With trades placed in the final minutes of the latest trading session on May 20, the trader managed to lift GME stock price by almost 15%, increasing its value from $20.23 to $23.14 at closing.

GME stock price surge. Source: Unusual Whales
GME stock price surge. Source: Unusual Whales

It might be hard to deduce whether call options were just a form of manipulation to influence the price for even bigger immediate gains or whether the trader is really betting on GME stock.

Today could be essential for GME stock

The number of outstanding call options for GME stock and the high level of short interest compared to a float at 20.55% today might be key for the future of GME shares as individual traders and hedge funds battle it out in a remake of the 2021 short squeeze and subsequent events.

As the price charts closely resemble each other, the financial analyst Financelot highlights the upcoming 24 hours as crucial.

Whether he is right or the previous trading session and spike due to a single trader’s activity are just an introduction to events that will follow, investors will soon find out.

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