Sharplink Gaming Inc sees 4.09% share price increase, options sentiment mixed.

Sharplink Gaming Inc's (SBET) shares are up 4.09% to $19.95, with options volume relatively light and calls leading puts for a put/call ratio of 0.17. Implied volatility dropped 4.38 to 111.64, suggesting an expected daily move of $1.40, while put-call skew steepened, indicating increased demand for downside protection.

Sharplink Gaming Inc. (SBET) shares have surged, rising 4.09% to $19.95, as of July 2, 2025. The stock's options volume was relatively light, with calls leading puts, resulting in a put/call ratio of 0.17. Implied volatility dropped 4.38 to 111.64, indicating an expected daily move of $1.40. The put-call skew steepened, suggesting increased demand for downside protection.

SharpLink Gaming, an online performance marketing company, has been a notable gainer this year, up 146.53% following its aggressive expansion into Ethereum (ETH) holdings and the upside move in the cryptocurrency [2]. The company's stock has been boosted by an initiation of coverage by Alliance Global Partners, which provided a "Buy" rating and a price target of $48, more than double the current trading price of $20.21 pre-market [2].

Alliance Global Partners highlighted SharpLink's substantial daily trading volume of nearly $700 million and its partnership with Consensys as key factors driving the positive outlook. The firm emphasized that the presence of Ethereum co-founder Joe Lubin as chairman and Joseph Chalom, a former BlackRock executive with digital asset expertise, as CEO positions SharpLink advantageously in the evolving digital asset landscape, particularly as the GENIUS Act fosters regulatory clarity around stablecoins [2].

As of July 2025, SharpLink held over 438,000 ETH, valued at approximately $1.7 billion. Key acquisitions include 176,271 ETH acquired in June 2025 for roughly $463 million, bringing total holdings to 198,478 ETH and a direct purchase of 10,000 ETH from the Ethereum Foundation for $25.7 million in July 2025 [2]. More than 95% of these holdings are actively deployed in staking solutions, contributing to Ethereum's network security and generating native yield [2].

Despite these strategic gains, SharpLink reported a net loss of $103.4 million for Q2 2025, primarily due to an $87.8 million non-cash impairment charge related to its liquid-staked ETH and substantial stock-based compensation expenses [2]. However, management views these losses as short-term, anticipating long-term benefits from potential Ethereum price appreciation and staking rewards [2].

Markets have reacted with cautious optimism to SharpLink's strategic pivot. While some express concerns regarding the volatility inherent in crypto assets, others see the company's Ethereum accumulation and staking strategy as a potentially lucrative move that could generate substantial returns if Ethereum continues to gain traction [2]. The stock has demonstrated renewed momentum in recent weeks, indicating growing market confidence in its blockchain-centric strategy as Ethereum prices moved higher [2].

References:
[1] https://finance.yahoo.com/quote/SBET/
[2] https://www.asktraders.com/analysis/sharplink-gaming-sbet-stock-surges-on-analyst-upgrade-and-ethereum-strategy/
[3] https://www.marketbeat.com/instant-alerts/traders-purchase-high-volume-of-sharplink-gaming-call-options-nasdaqsbet-2025-08-23/
[4] https://finance.yahoo.com/news/sharplink-gaming-profit-margin-hits-160349205.html