What's going on moon gang, i hope you're having an absolutely fantastic day, and this is your dumb money update for today, tuesday august 31st, and in this particular video i will be talking about gamestop, aka gme i'll, be going into the technicals, the short interest data points And i'll be taking a little look at the option chain. So with all that being said, let's hop right into it all right to kick things off. Just to set a little bit of foundation. Gme had a very good day.

It gained 4.32 and closed the day out at 218, actually above it and now in post-market trading, it's up even more at 219, so very good day, um a little bit close to the end and we were seeing a lot of things actually sell off. It. Didn't look the best, but it had a very, very nice bounce and rally, and i'm 100 looking for a continuation for the remainder of the week, but before we get into the technicals of why that is very quickly with the ortex data. Today they borrowed 118 000 shares against jimmy, and there was a net return of 267 000 which puts the short interest in the realm of 12.77.

The utilization is 34.5 and the shares on loan, probably now around 7 million uh, taking into account the borrow change on the day. I do want to bring to your attention some of the other trends that we're seeing so ever since kind of early july. Until now, the trend of the number of loans per day against jamie and also the average age of shares on loan going up up up right now. The average age of shares on loan against jimmy is almost 35 days and the number of loans per day was 509, and just so you know the low on this was 343..

So that's some of the trends that we're seeing just wanted to throw that out there, but i think what's more interesting is what we're seeing in the daily chart. So for quite a while it was down. Trending gme was downtrending. It came off of really 345 all the way down to around 150..

It did break out of this downward trend on august 24th with a lot of strength. And if you remember this, and it almost all came in like the latter half of the day, we shot up and then since then a little bit of consolidation. And i was throwing this out in my update video yesterday and over the weekend about what i was seeing in gme and this i think we can better actually explain it on a smaller time frame. So you see the explosion lower highs, higher lows.

This is referred to as a bullish pennant, you have the flagpole, then it's flagging and usually these break upward and that's finally, what we got today. I love that we're above it. I love that we had decent volume. I would have liked the volume to be better.

We traded 3.54 million. Yesterday we traded 3.3 million the day before that 3.2. So we are seeing an increase in volume, and that just tells me that the market participants are accepting this price, but i'm looking for the follow through to 225 and then after 2 25, which would be a breakout of the august 24th august 25th highs from there. I'm literally watching the lie the high all the way from - i guess june 11th right here, which is 240.

so above 225, a nice volume. If we can hold that, i think that puts 240 up and then from there honestly we could just keep trucking trucking trucking and at that point i'll just do a new technical breakdown for you. But overall we do have some important supports. I would say that 208 has proven itself to be a pretty important support, but really 200, that key psychological level is a mega support for gme.

So i very much like that. It's holding on to that, but overall that's your technicals. I love the bullish pennant. I love the follow through the short interest numbers here i mean there's still sizable bets against cheating me.

Is it the exact same size that we saw in january no, but is it of enough size to really get the stock going once again, yeah and our fingers crossed that things like robinhood, aren't going to stop the purchasing of the stock? Well with that, i don't like when people compare gme's numbers of what it did in january until now, because, honestly, what happened in january, it's kind of fictitious they stopped the buying. We knew it was a retail driven event and when most retails on robinson and robinson stops the purchasing of a stock. Those numbers to me are completely understated of where jimmy was truly going to go, but anyway, just to wrap this up. Let me show you what's going on: this: is the option chain for jimmy so for this friday today, just keep in mind that all these these contracts actually represent a hundred shares.

So this isn't a thousand. This is actually a hundred thousand. So remember the reason i'm breaking this up is as we go more and more out of these. These out of the money calls go in the money.

We're gon na see more hedging. This is what's referred to as a gamma squeeze, but what you really need to know is that just represents more buying beyond a short squeeze. This is a gamma squeeze and then both of those can lead to an incredible fomo and they all play into each other, and you just basically get this violent. Volatile explosion upward, but anyway, 215 was interesting.

That's 100, 000 shares and remember. A hundred thousand is big when you're talking about a stock, that's currently trading three million. We have about two hundred thousand at two twenty, that's the first on the docket. Then we have another hundred thousand at two twenty five and one hundred and forty thousand and two thirty and things could get very interesting at 250.

That could represent 340 000, which would almost be a tenth of today's volume, and that's just for this friday and you could check out the 10th don't forget next week. It is a short trading week. The market will be closed on monday in observance of labor day, but then for the september monthlies. We see a lot more open interest going on same thing here: 220 over a thousand a thousand at 230..

We have 3700 at 250 1500 at 280., 5, 700 at 300. So my point here is: it's becoming more and more bloated. Have we seen gme have a crazier option chain, of course, but my point is: is that it's trending upward the interest in all these out of the money calls is getting higher and higher and higher and as they start to go from out of the money to In the money, we're gon na see more purchasing and that's exactly how a gamma squeeze can play into a short squeeze, and with that you have some foam on buyers and they all play into each other. But if you boil it all down what it really adds up to is just a mega amount of buying.

So overall, this stock is looking very, very good and i'm particularly excited to see how this really plays out for the remainder of the week. So i think it's bullish. I, like the technicals, i like what i'm seeing in the ortex data and i'm also like what i'm seeing really in the option chain, but maybe i'm missing something so with that being said, i would like to know your thoughts on jimmy in a comment below. Are you bullish, bearish neutral? Am i missing something? Let me know, and until i catch you next time from me and share best of luck in the markets?.