This is option expiration weekend. Anyone holding an option to buy can exercise that right and call the contract quantity to be filled at the contract price. So all those GME contracts @ ~$20 will have to be filled at market price if they don't actually own the underlying security. Depending on the contract, the option to buy can occur prior to expiry while some contracts require option expiration to occur which is this weekend.
This is option expiration weekend. Anyone holding an option to buy can exercise that right and call the contract quantity to be filled at the contract price. So all those GME contracts @ ~$20 will have to be filled at market price if they don't actually own the underlying security. Depending on the contract, the option to buy can occur prior to expiry while some contracts require option expiration to occur which is this weekend.
https://www.investopedia.com/ask/answers/09/option-expiration-date-profits.asp