Moderately bullish activity in GameStop with shares up 0.75%

Moderately bullish activity in GameStop (GME), with shares up 18c, or 0.75%, near $23.39. Options volume relatively light with 135k contracts traded and calls leading puts for a put/call ratio of 0.25, compared to a typical level near 0.23. Implied volatility (IV30) is higher by 0.4 points near 47.1,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.69. Put-call skew steepened, indicating increased demand for downside protection.