markets

3/24/25

One measure of GameStop options positioning is the most bullishly tilted since 2024’s meme stock mania

Ahead of GameStop’s earnings on Tuesday, one measure of options market positioning is the most bullishly tilted since Keith Gill, aka Roaring Kitty, was building up a massive bet on the company in the second quarter of last year, kicking off a frenzy in the stock.

The open interest in GameStop calls is 3.62x higher than the open interest in puts as of Friday.

What’s driving this? Well, mainly that put activity has gone dormant: open interest in bearish contracts is lingering near its 2023 lows (which were the lows for the past decade). Meanwhile, open interest in calls has been grinding higher, but is only about one-third of its Q1 2021 peak.

It’s not a lock that this positioning is straightforwardly bullish, as calls can be bought or sold to open. But given GameStop’s history as a meme stock darling, it’s a fairly safe assumption that’s the case. Aside from the 2021 mania, most spikes in call open interest relative to puts have occurred during, or just ahead of, big run-ups in the stock.

For this week’s expiry in particular, that ratio of calls to puts is even higher, at 3.85. These derivatives tied to earnings are quite pricey. The implied one-day change following the report is plus or minus about 12.3%. GameStop hasn’t moved that much following either of its past two earnings reports, though it did in the two prior to that.

If you’re more fundamental than flow inclined, there aren’t many analysts putting out earnings estimates for the company. Adjusted earnings per share are expected to come in at $0.09 on revenues of $1.478 billion, with adjusted net income of $33.45 million for its holiday quarter.

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S&P 500 goes nowhere, Nasdaq 100 hits another record, small-caps tumble

Warner Bros. Discovery led gains for the second day in a row, and only three S&P 500 sector ETFs finished in the green.

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markets

21h

Rocket lab soars to new record close amid rally for retail faves

Rocket Lab ripped by roughly 10% Friday to close at a new all-time high, riding an upturn of retail enthusiasm for a coterie of tech-themed favorites, even as the broader market was more or less flat on the day.

Goldman Sachs’ basket of “retail favorites” — its heaviest weights are Reddit, AppLovin, and Tempus AI — was the second-biggest gainer among the company’s flagship US equity baskets on Friday, rising about 1.6%. The S&P was almost dead flat.

It’s not Rocket Lab’s first retail rodeo, as the money-losing company has more than doubled this year and is up nearly 700% over the last 12 months.

Oracle Wall Street Revisions

Analysts revise up anything and everything they thought about Oracle

After the company’s bombshell earnings this week, Wall Street thinks Oracle’s trajectory has changed.

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markets

24h

Six Flags pops after reiterating its guidance as theme park attendance rebounds

Six Flags shares rose more than 7% today after the company reported a rebound in attendance and early season pass sales heading into the fall. The nine-week period ended August 31 saw 17.8 million guests, up about 2% from the same stretch last year, with stronger momentum in the final four weeks.

More importantly, Six Flags reaffirmed its full-year adjusted EBITDA guidance of $860 million to $910 million, showing confidence that its cost and operations strategy can stay strong for the duration of the year. Riding that wave, Six Flags also said early 2026 season pass unit sales are pacing ahead of last year, and average season pass prices are up about 3%.

The good vibes come despite a drop in in-park per-capita spending, especially from admissions, where promotions and changes to attendance mix (which parks or days guests visit) have weighed. Earlier this week, the amusement giant signed a new agreement that extended its position as the exclusive amusement park partner for Peanuts™ in North America through 2030.

Despite the rally, Six Flags shares are down about 52% year to date.

markets

9/12/25

Rivian turns red on the year, squeezed by a recall and the looming end of the EV tax credit

Shares of EV maker Rivian are down more than 5% on Friday following the company’s recall of 24,214 vehicles due to a software issue. The stock move erases Rivian’s year-to-date gain and turns the company negative on the year.

Rivian’s 2025 model year R1S and R1T are affected by the defect, which was identified after a vehicle’s hands-free highway assist software failed to identify another vehicle on the road, causing a low-speed collision. Rivian said it’s released an over-the-air update to fix the issue.

The recall marks Rivian’s fifth this year, affecting nearly 70,000 of its vehicles.

Rivian’s shares are down more than 20% from their 2025 high, which came prior to the passage of President Trump’s “big, beautiful bill.” Through the legislation, the $7,500 EV tax credit is set to expire at the end of the month.

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