SunTrust cut its price target on GameStop (GME) citing the discount the company placed on Electronic Arts' (EA) Star Wars game and the firm's belief that November NPD data, due out tonight, could be negative. SunTrust keeps a Buy rating on GameStop.
Bullish option flow detected in GameStop with 44,913 calls trading, 1.9x expected, and implied vol increasing over 3 points to 96.82%. 4/26 weekly 11.5 calls and May-24 12 calls are the most active options, with total volume in those strikes near 7,700 contracts. The Put/Call Ratio is 0.10. Earnings are expected on June 5th.
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