Roaring Kitty may have cut GameStop options position, strategists say
What evidence suggests that Keith Gill, known as Roaring Kitty, may have sold some of his GameStop options recently?
Evidence suggesting that Keith Gill, known as Roaring Kitty, may have sold some of his GameStop options recently comes from a surge of trading in some short-dated GameStop options contracts on Wednesday1. Gill had recently disclosed a sizeable GameStop stock and options position in a screenshot posted on Reddit on June 2. On Wednesday, around 93,000 of the June call options changed hands, with some of the trades occurring in large chunks of 5,000 contracts or more. The average price of the contracts was $7.65, and many of the trades took place below the bid price, indicating that a seller may have been trying to offload the contracts. While it is not possible to independently verify whether the contracts were sold or whether Gill was behind the trades, the activity suggests that he may have been closing his position.
How many GameStop June 21 call options did Keith Gill hold according to the screenshot posted on Reddit, and what was their strike price?
According to the screenshot posted on Reddit, Keith Gill held 120,000 GameStop June 21 call options with a strike price of $20.
What was the total value of the GameStop shares owned by Keith Gill as per the latest disclosure?
Based on the latest disclosure by Keith Gill, also known as "Roaring Kitty," he owned 5 million GameStop shares worth $115.7 million as of June 2. This information was shared in a screenshot posted on Reddit.