The following trade alert was sent to subscribers of Steve's Optionsmith newsletter on Friday. I’m taking another stab at a bearish position in Gamestop (NYSE:GME) the video game retailer. This stock has been a bear killer including me when I bought May puts in mid April when it was trading around $33 only to watch it climb to about $39 just prior to that expiration. The stock then tumbled down below $31 over the next two weeks (very frustrating) but has now climbed back to the $39 level. This now creates a double top and offers a new entry point. ...![]()
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