GameStop Stock Surges on Better-Than-Expected Q2

Group 1 - GameStop Corp's shares increased by 5.9% to $24.96 after reporting a top- and bottom-line beat for the second quarter, marking its fifth consecutive quarterly win [1] - The company's Bitcoin holdings have surpassed half a billion dollars [1] - GameStop is experiencing its fourth consecutive daily gain and has a 6.6% year-over-year lead, trading at its highest level since June [2] Group 2 - The stock has broken above the $24 resistance level, which had been in place for the last four months, but still has a 20.1% year-to-date deficit [2] - GameStop remains heavily shorted, with 67.84 million shares sold short, accounting for 16.6% of its available float [3] - It would take shorts more than one week to cover their positions at the average trading pace of GameStop [3] Group 3 - The options volume is running at seven times the intraday average, with 311,000 calls and 119,000 puts exchanged [4] - The most active options contract is the weekly 9/12 25-strike call, followed by the 24- and 26-strike calls [4] - Positions are being opened at the 26-strike call, indicating increased interest in bullish positions [4]