Disclosure: This is not investment advice. I own shares of GME. I like the stock. This is purely my opinion and these numbers have not been audited.
Round 2: Ding, ding, ding. Here's my previous analysis
TL;DR: The data indicates that squeezes could be on the way.
Analysis
Currently: Roughly $227m in value, or 11.6m shares, (call-put) are in the money.
- At each $10 threshold up to $150/share, approximately 1m shares come into the money at each increment.
- At $160/share, approximately 2m shares come into the money.
 
Since rate of delta change is the highest around each strike price (meaning gamma is also largest). It would lead me to believe that a ton of shares will need to be bought to hedge these positions as these share price amounts are passed (creating a sequence of gamma squeezes).
 
**If price were to squeeze up to $810/share (~56b market cap):
- The net calls in the money would exceed the float.** This is insane! Even if calls were covered on the way up by buying the underlying, it's not possible to cover more than 100% of float
- 8m shares would come into the money creating a huge gamma squeeze
- This in turn would create a massive short squeeze (even if current short reporting is accurate, which is somewhat questionable at this point, there are more net calls alone that need to be covered to exceed float, which means shorts would be squeezed not just because of the price, but also because of share lenders calling shares. P.S. - Not sure how this works, so would like to hear others weigh-in if they understand this better)
- Really, hitting this price seems like it would create a squeeze of epic proportions
 
As of 3/3 close: (Call Value ITM - Put Value ITM) = >$226m | Call Shares ITM - Put Shares ITM = >11.5m
Data
 
Here's the call-put at various different prices.
 
|close price|call-put value|call-put shares|% of float|market cap
|--:|--:|--:|--:|--:
| 100 | -$201,809,550 | 6,835,400 | 15.2% | $7b
|110|$10,521,350|9,778,800|21.7%|$8b
|120|$226,704,750|11,592,100|25.7%|$8b
|130|$446,365,250|12,925,800|28.7%|$9b
|140|$669,720,750|14,056,700|31.2%|$10b
|150|$894,626,250|15,208,300|33.8%|$10b
|160|$1,129,840,250|17,105,300|38.0%|$11b
|170|$1,366,069,250|17,670,700|39.2%|$12b
|180|$1,605,351,750|18,202,100|40.4%|$13b
|190|$1,847,982,750|18,695,800|41.5%|$13b
|200|$2,093,079,750|19,494,900|43.3%|$14b
|210|$2,351,539,750|21,391,700|47.5%|$15b
|220|$2,611,682,750|21,638,200|48.0%|$15b
|230|$2,873,648,250|22,053,100|49.0%|$16b
|240|$3,138,199,250|22,466,600|49.9%|$17b
|250|$3,405,997,250|23,338,600|51.8%|$17b
|260|$3,679,676,750|24,481,600|54.3%|$18b
|270|$3,954,336,250|24,657,400|54.7%|$19b
|280|$4,229,638,750|24,801,000|55.1%|$20b
|290|$4,505,858,750|24,948,400|55.4%|$20b
|300|$4,783,059,750|25,351,500|56.3%|$21b
|310|$5,073,186,250|26,944,700|59.8%|$22b
|320|$5,364,298,000|27,189,100|60.4%|$22b
|330|$5,658,580,000|27,605,400|61.3%|$23b
|340|$5,955,671,000|27,963,300|62.1%|$24b
|350|$6,253,594,000|28,084,700|62.3%|$24b
|360|$6,556,845,000|28,649,400|63.6%|$25b
|370|$6,862,032,500|28,867,000|64.1%|$26b
|380|$7,168,371,000|29,016,600|64.4%|$27b
|390|$7,475,723,500|29,127,600|64.7%|$27b
|400|$7,783,850,500|29,250,500|64.9%|$28b
|410|$8,105,302,000|30,614,100|68.0%|$29b
|420|$8,427,259,000|30,695,200|68.1%|$29b
|430|$8,750,625,000|30,869,200|68.5%|$30b
|440|$9,075,446,000|31,042,300|68.9%|$31b
|450|$9,400,534,000|31,107,800|69.1%|$31b
|460|$9,728,535,000|31,430,100|69.8%|$32b
|470|$10,056,809,000|31,484,600|69.9%|$33b
|480|$10,385,370,000|31,545,700|70.0%|$33b
|490|$10,714,482,000|31,629,000|70.2%|$34b
|500|$11,044,436,000|31,819,200|70.6%|$35b
|510|$11,387,898,000|33,292,500|73.9%|$36b
|520|$11,731,749,000|33,374,100|74.1%|$36b
|530|$12,075,914,000|33,435,900|74.2%|$37b
|540|$12,420,559,000|33,513,000|74.4%