Some GameStop traders think the so-called meme stock will build on this week’s surprise surge — by skyrocketing to $800 in a single day.

The most popular GameStop options contract on Thursday was a bet that the shares would climb to that price on Friday, Bloomberg data show.

More than 52,000 of those contracts were traded as the video-game retailer’s stock climbed more than 141 percent over two days to close at $108.73 on Thursday, according to the data.

The contracts are known as call options, which give buyers the right to purchase a stock at a certain price before a specific date without requiring them to ultimately take the shares.

The odds of GameStop reaching the $800 mark on Friday are pretty slim even though Reddit’s army of retail traders has started pumping up the stock again.

The Texas-based company’s shares were trading at $122.05 as of 8:05 a.m., up 12 percent from the prior day but still less than one-sixth of the price specified in those hot options contracts.

Vladimir Tenev, chief executive officer of Robinhood Markets, Inc., testifies during a virtual hearing on GameStop.
Vladimir Tenev chief executive officer of Robinhood Markets, Inc., testifies during a virtual hearing on GameStop.
House Financial Services Committee via AP

But that hasn’t stopped traders from placing other lofty wagers. The second-most-active options contract bet that GameStop would hit $200 on Friday — a mark it hasn’t reached since Feb. 1 — while Nos. 7 and 8 anticipated the stock vaulting $800 by March 5 or March 19, Bloomberg figures show.

It’s unclear from the data whether the contracts themselves were primarily being bought or sold, according to Bloomberg News.

Keith Gill, a GameStop investor, also known in social media forums as Roaring Kitty, testifies during a virtual hearing on GameStop.
Keith Gill, a GameStop investor, also known in social media forums as Roaring Kitty, testifies during a virtual hearing on GameStop.
House Financial Services Committee via AP

The trades came as GameStop shares exploded for the second time in a month after about two weeks of muted trading. The initial frenzy around the stock in January — which was pushed by rookie investors on Reddit’s WallStreetBets forum — drew the attention of federal regulators and Congress.

It’s unclear what sparked this week’s surge, but it appeared to start after a cryptic tweet from GameStop investor Ryan Cohen, who was reportedly behind the resignation of chief financial officer James Bell.



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