Keith 'Roaring Kitty' Gill's latest YOLO update shows 9 million GME shares and no call options held
GameStop (GME) investor Keith 'Roaring Kitty' Gill has posted a YOLO update to Reddit showing no call options contracts and over 9 million shares.
GameStop investor Keith "Roaring Kitty" Gill has posted his latest YOLO portfolio update to r/Superstonk showing that he indeed sold most of his call options position and bought an additional 4,001,000 GME shares.
GME YOLO update – June 13 2024
byu/DeepFuckingValue inSuperstonk
Based on Gill's previous posts to Reddit and on his livestream last week, we can ascertain that he probably exercised 40,010 of his 120,000 GameStop $20 strike call options expiring on June 21, 2024 and sold the remainder to help finance his share purchase. His cash position has decreased from $29.4 million before these trades were made, and he now has $6.3 million of cash on hand as of the market close today. Just last week his portfolio was valued at over half a billion dollars, but his total account value now sits around $268 million following a 75 million share capital raise by GameStop, and countless stock market halts.
Gill now has no gun to his head with an impending stock options expiration on the horizon. It does appear that he exercised as many call options as he felt comfortable doing, and essentially doubled down again on his GME stock position. GameStop's stock was in the news again earlier today when the annual meeting of shareholders was postponed due to technical issues, but there is no way to be sure if that was the cause of Gill's actions in the market or if he began this process yesterday. Many investors and traders noted that the open interest of the June 21, 2024 GameStop $20 call options did decrease yesterday, leaving many people speculating about Keith Gill's 120,000 call options. No more speculation is needed, as we now know that he still really likes the stock to the tune of 9,001,000 shares.
Source: r/Supestonk
Keep it locked on Shacknews for all of the GameStop news as it breaks. Will we be hearing from Keith 'Roaring Kitty' Gill again soon or will he recede back into his Internet slumber? Only time will tell.
This article is only meant for educational purposes, and should not be taken as investment advice. Please consider your own investment time horizon, risk tolerance, and consult with a financial advisor before acting on this information.
Full Disclosure:
At the time of this article, Shacknews primary shareholder Asif A. Khan, his family members, or his company Virtue LLC had the following positions:
Long GameStop via GME shares
Long GameStop via GME call options
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replyAsif Khan posted a new article, Keith 'Roaring Kitty' Gill's latest YOLO update shows 9 million GME shares and no call options held
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I think at half a billion in GME I would sell at least half. I know that valuation was temporary, but my god, his hands are made of Lonsdaleite at this point
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For what? Liking the stock?
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Not sure, just something I've read off:
https://arstechnica.com/tech-policy/2024/06/gamestop-stock-influencer-roaring-kitty-may-lose-access-to-e-trade-report-says/
They say he's not an amateur stock trader and there's this:
But now the SEC seems to be mulling whether there's anything fishy with the latest GameStop stock craze. Sources told the WSJ that the agency began "reviewing trading in GameStop call options around the time of Gill’s social-media posts." It's currently unclear if Gill is specifically suspected of price manipulation or if the SEC is examining the bigger picture to figure out what activity, if any, "could be considered manipulation."
It seems unwise to sell some now after he came back for a while with no activity and now posted a bunch of memes on Twitter while the stock went on a rise again?-
Jim Cramer and 99.9% of professionals in the industry are guilty of whatever this is, then.
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The guy with the "BUY BUY BUY" soundboard? HOW COULD HE MANIPULATE MARKETS?
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