Caixin News, June 14th (Editor Xiaoxiang) - Keith Gill, a leading US stock market leader with the username "Roaring Cat," updated his latest shareholding in Game Station (GME) on Thursday. According to the latest position screenshot released by him, he currently holds 9 million shares of Game Station stocks, up from 5 million shares at the beginning of this week.
According to the latest position update released by Gill on Reddit after the close of the day, his current book value of holdings is approximately $262.1 million. According to a recent regulatory document, this is equivalent to 2.1% of the 426 million circulating shares of Game Station.
The holding screenshot released by Gill also shows that his investment portfolio no longer includes 120000 game station call options, which were originally scheduled to expire next week with an exercise price of $20.
In addition, his cash position has decreased from nearly $30 million initially disclosed on Monday to $6.3 million. This means that Gill may have increased his holdings of common stock with some cash.
As of Thursday evening, Gill's total value of the aforementioned accounts (including cash) has exceeded $268 million, up from $210 million on June 2nd.
On June 2nd, the first day he initially disclosed his holdings, his investment portfolio held 5 million shares of GameStation stocks and 120000 call options. Call options give holders the right to purchase stocks at a specified price before a certain expiration date, but without obligation.
At present, it is uncertain how Gill specifically adjusted his position - he can sell all 120000 call option contracts and use the proceeds to purchase additional shares; It is also possible to sell some of the large option positions and exercise the remaining options in advance.
It is worth mentioning that starting from Wednesday afternoon local time, the trading volume of Game Station call option contracts with a strike price of $20 and a maturity date of June 21 has indeed skyrocketed, and it is precisely these contracts that Gill holds. According to industry statistics, the trading volume of the above-mentioned call options was approximately 142000 on Wednesday and Thursday. By the close of Wednesday, the number of open contracts had sharply decreased by 34% to 111818.
This phenomenon, coupled with the decline in the prices of game station stocks and call options at that time, led many people to believe that Gill had already begun to choose to "withdraw".
However, it is evident that the leading American stock market leader has not yet fully planned to wash his hands.
No matter how Gill operates, his options contracts clearly still bring him returns in the end. The above call options with a closing price of $6.40 on Wednesday were traded between $6 and $9.80 on Thursday, which means that the final selling price of these options will still be higher than Gill's claimed average purchase price of $5.6754.
Many people had previously speculated that Gill would not hold these call options until they expire: because in order for Gill to exercise all call options, he would need to have $240 million to purchase stocks -12 million shares at a price of $20 per share, far exceeding the amount of cash publicly displayed in his E-Trade account.
Regarding this, Danny Kirsch, the head of options at Piper Sandler&Co., believes, "It seems that he has sold 80000 call options and exercised 40000. Therefore, according to the screenshot circulating on Reddit, he currently holds 9 million shares of GME."
In the past four weeks, Gill's continuous mysterious tweets on the X platform, coupled with his disclosed portfolio holdings on Reddit, have led many US retail investors to follow suit and buy stocks in GameShop.
On Thursday, the stock price of Game Station surged more than 14% again to close at $29.12.