Gill's Purported GameStop Options Would Net Him $170 Million [BNN Bloomberg (Canada)]
Reddit, Inc. Class A (RDDT)
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Source: BNN Bloomberg
The meme-stock personality known by his handle Roaring Kitty is sitting on paper gains north of $170 million, based on a screenshot posted under Gill's DeepF— Value handle on a Reddit Inc. board. The unverified holdings suggest Gill owns 120,000 call options that would give him the right to buy 12 million GameStop Corp. shares for $20 each on or before June 21. Read More: GameStop Shares Surge as Gill's Reddit Return Shows Massive Bet The shares closed at $23.14 Friday, but more than doubled in early Monday trading after the Reddit post Sunday evening. Realizing the gain would not be easy, since Gill would need to first spend roughly $240 million to fully exercise the options, based on the $20 strike price. While Gill's holdings couldn't be immediately verified, options data suggest it might well be accurate, assuming the calls were bought on an exchange and not via block trade outside of an official trading venue. Trading data between May 20 and May 31 saw open interest in Gam
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