GameStop Options Action Hints ‘Roaring Kitty’ Shrinking Bet
- Open interest in June 21 $20 calls shrinks 34% on Wednesday
- GameStop shareholder meeting postponed due to tech issues
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Holdings of the GameStop Corp. call options Keith Gill — known online as ‘Roaring Kitty’ — purported to own shrank amid a flurry of late trading Wednesday and Thursday, suggesting that he may have sold some of the position.
Volume of GameStop $20 calls expiring on June 21 surged to 93,266 contracts on Wednesday, mostly in the last half hour of trading, making it the most-active option. On Thursday morning, volume picked up again shortly after 11:30 a.m., with most large transactions at or near the bid, signaling selling pressure. By midday, the contract was again the most popular, having changed hands 41,230 times.