Options/GME

GMEGameStop Corp. Class A

Options Analysis Report•RETAIL-COMPUTER & COMPUTER SOFTWARE STORES

Market Cap $8.6B|NYSE

● 2026-09-04$19.16

BULLISH

Analysis: 2026-09-03 EOD data

1Y -15.3%YTD -7.1%7D +7.2%

Options Vol

159,194

30D

Implied Move

±15.8%

IV Rank

36%

GME Options Overview

IV is elevated with bullish flow and unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

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GME Gamma Walls

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GME Hedge Radar

Sell premium

Full Hedge Radar

Fragility reads low; protection is priced rich. Neither axis is a forecast — this is where GME sits on protection cost vs. fragility today.

Protection is priced in the rich band (6.37) — options are pricing vol 137% above what the stock has actually been realizing, and near-dated vol is priced 45% above far-dated, measured against this name's own rolling 20-trading-day realized moves (484 overlapping windows). Fragility reads resilient (2.46): its realized-vol regime is contracting, and it is trading 6% above its hedge wall on a wall graded MEDIUM for reliability.

Protection cost

6.37/ 10rich

Basis: cross_sectional

Fragility

2.46/ 10resilient

Basis: per_ticker

Value

Is IV priced right?

2.9

ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks3/9 checks passed

IV Rank

≤35%

IV Rank 78.5% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 2.37x — IV premium over HV

Sector Relative≤50%

Sector percentile 82% — above sector median

Term Structure

<1.1x

Front/Back 1.45x — backwardation

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 54.3% — normal range

Spread-Adjusted Value

<80%

Effective IV 67.1% (ATM 54.3% + spread 6.4% + bias) — fair

Execution Efficiency

<3.0%

Total drag 11.49% (spread 6.40% + slippage 5.09%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 3.32 (vega 2.126 / spread 6.40%) — spread drag

Sentiment

Bullish or bearish?

7.0

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBullish - Strong signal (Conviction: +14%, Raw: +9%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +14% (bullish) — Raw: +9%

OI Skew Magnitude

≥15%

|OI skew| 55.2% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +67.5%, OI skew +55.2% — aligned

Conviction Quality

≥2/3 conditions

0-DTE 36%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: +39%, ATM: -0%, OTM: +8% — bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 18% — very bullish vs sector

Activity

Unusual activity?

5.2

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed

Volume Surge

≥1.5x

Volume 1.4x avg — normal

Turnover Rate

≥15%

Vol/OI 9.5% — normal turnover

Multi-Day Persistence

≥2 days

1 day(s) elevated — may be one-day event

OI Build

≥5%

OI change +3.5% (5d) — building

Sector Relative≥60%

Sector activity percentile 86% — very active vs sector

Trade Quality

≥30%

Large trade volume 25% — mixed

Execution Urgency

≥60%

Aggressive execution 52% — patient

Flow Conviction

≥30

Conviction +14 (bullish) — mixed

Liquidity

Can I trade efficiently?

5.7

IlliquidLiquid

Evaluates

bid-ask spreads

, volume depth, and open interest for trade execution quality.

Risk Checks4/8 checks passed

Tradeable Spread

≤5.0%

Spread 6.4% — wide

Adequate OI

≥10,000

OI 1,681,468 — deep

Active Volume

≥500

Volume 159,194/day — active

Reasonable Cost

≤$0.50

$0.32 to cross — cheap

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 90% — much wider than sector

Order Book Depth

≥100 contracts

Depth 349.1 contracts (bid:161.2 ask:187.9) — adequate

Execution Quality

<1.0%

Avg slippage 5.09% — poor

Timing

Is now a good time?

7.4

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +45.3% — backwardation

IV Percentile Clarity

<30 or >70

IV percentile 78% — seller opportunity

Event Detection

≥10pts kink

IV kink 19.9pts — event priced

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 97.95 — favors income trades

Expiration Distribution

≥3 expirations

4 liquid expirations — flexible

Event Risk

≥60% (safe)

caution advised: Earnings in 4d (elevated risk)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +14% @ 57% consistency — unclear

Smart Money Timing

≥40 composite score

Score 55 (ITM 20% + inst 25%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls5.4

bullishIV expensive, bullish flow

Long Puts4.1

bearishIV expensive, bullish flow

Premium Sellers

Cash-Secured Put6.8

bullishIV rich premium, bullish flow

Covered Call5.4

bearishIV rich premium, bullish flow

For educational purposes only. Not investment advice.

Earnings · week of Sep 7

Options price a ±7.2% move into GME's Sep 8 earnings

GME reports on Tuesday, September 8 after the close. The at-the-money straddle covering that report prices a ±7.2% move — roughly $17.78 to $20.54 from $19.16. GME has averaged ±7.4% on its last 6 earnings reactions (biggest: 12%), so this print is priced at 1.0× its own history.

FAIRLY PRICEDimplied ±7.2%history ±7.4%Sep 11 expiry

See the implied move for every US stock reporting the week of Sep 7

Implied move = the live at-the-money straddle for the expiry covering the report (Sep 11); it shifts intraday. Historical move = the average of GME’s own 1-day earnings reactions over its last reported quarters — a reference, not a forecast.

More on GME

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