GameStop Options Action Hints 'Roaring Kitty' Shrinking Bet

Keith Gill, also known as the "Roaring Kitty," reportedly owned call options in GameStop Corp. The specific options mentioned in the context are the GameStop $20 calls expiring on June 21. These options give Gill the right to purchase GameStop shares at $20 apiece by the set expiration date.

On Thursday morning, the trading pattern for the GameStop $20 calls experienced a surge in volume, with most large transactions occurring at or near the bid, indicating selling pressure. This followed a significant increase in volume on Wednesday, where the contract became the most-active option. By midday on Thursday, the number of outstanding contracts had dropped 34% to 111,818, which was fewer than the 120,000 that Keith Gill, known online as 'Roaring Kitty,' had claimed to have bought in a social media post earlier in the month.