Surge in GameStop Options Trading Sparks Speculation: Did 'Roaring Kitty' Sell Some of His Position?

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Strategists observed a surge in trading of short-dated GameStop options contracts on June 12th, suggesting that Keith Gill, aka "Roaring Kitty," may have sold some of the options position he recently disclosed. Gill had disclosed holding 120,000 GameStop June 21st call options with a strike price of $20, as well as 5 million GameStop shares. On June 12th, around 93,000 of Gill's June call options saw trading, with some blocks as large as 5,000 contracts. This implied Gill was closing his position. By the end of the 12th, Gill's remaining options were valued at over $76 million, an increase of more than $8 million from what he paid.

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