$GME 12c 5/17 whale just closed.. 4/24 @ .36 -> 5/15 @ 21.84
$908K -> $44Mhttps://t.co/05UfeHvYnC pic.twitter.com/kWxZ5fFNTX— unusualwhales.com Snorlax (๑❛ ڡ ❛๑) (@snorlax_uw) May 15, 2024
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
$118,234.00
6.24%$3,021.08
8.25%$2.59
7.26%$693.47
3.12%$165.62
5.31%$0.999981
0.01%$0.199309
10.15%$0.296293
1.66%$3,018.08
8.22%$0.701026
12.88%$45.74
9.62%$118,110.00
6.23%$3,642.99
8.16%$3.52
11.23%$15.57
8.99%$526.00
2.50%$0.308015
6.23%$21.16
9.05%$0.20044
14.71%$9.00
0.83%$3,232.18
8.14%$0.00001361
9.39%$3,021.00
8.24%$0.999923
0.01%$96.20
6.15%$2.96
3.00%$46.90
0.78%$1.001
0.15%$4.00
9.63%$118,247.00
6.28%$328.46
-0.10%$0.00001293
17.57%$4.62
4.04%$8.92
7.46%$1.002
0.11%$312.94
5.42%$0.518059
9.68%$387.13
10.25%$5.01
9.23%$2.60
10.14%$1.18
-0.05%$0.098591
3.28%$49.76
2.77%$5.53
7.14%$201.26
5.38%$0.917728
8.69%$18.76
6.35%$1.00
0.00%$1.059
0.02%$0.088315
8.78%$0.352458
22.35%$1.00
0.02%$0.641727
6.44%$4.71
8.63%$0.02503859
11.68%$0.427352
19.65%$0.226986
9.13%$10.10
9.69%$0.766879
9.50%$3.80
11.72%$16.48
2.84%$1.13
22.59%$0.223634
15.44%$4.46
0.03%$0.00002386
8.67%$3,025.01
8.44%$0.085367
3.18%$0.326972
23.44%$2.64
8.41%$118,007.00
6.27%$115.28
4.41%$4.77
3.43%$1.67
9.59%$175.77
5.59%$0.499055
9.22%$0.999915
0.01%$11.42
2.44%$0.997965
-0.22%$3,165.60
8.23%$3,439.68
8.25%$1.38
20.41%$1.00
-0.04%$1.93
13.62%$0.02110805
17.69%$1.26
1.77%$12.82
15.95%$0.692952
17.89%$1.85
13.96%$0.072991
6.84%$0.01689638
4.08%$0.763882
9.21%$3,228.46
8.41%$3,173.55
8.26%$0.348213
8.92%$118,105.00
6.40%$1.00
0.03%$1.067
11.73%$3.62
14.27%$3,180.95
8.28%$1.001
0.10%$0.00010291
11.04%$0.100635
11.48%$0.517307
14.36%$0.608347
67.43%$118,086.00
6.31%$1.11
0.06%$0.161869
5.41%$3,338.79
0.38%$119,995.00
12.05%$693.96
3.19%$3,266.08
8.81%$0.999372
-0.05%$0.643663
14.69%$2.55
7.00%$0.553178
6.50%$10.81
-10.37%$185.75
5.33%$216.44
5.35%$0.823199
10.71%$3,335.37
0.46%$0.01772022
15.05%$0.875266
11.00%$22.68
11.36%$0.188498
8.90%$2.73
11.81%$0.01509067
15.84%$0.294928
9.48%$111.75
0.01%$10.74
0.01%$43.48
7.28%$2.02
5.96%$0.120193
13.55%$0.812387
10.42%$3,021.67
8.31%$0.998209
-0.01%$4.09
10.45%$46.01
10.33%$3,226.36
8.43%$0.00000067
5.29%$0.00000165
29.14%$0.242933
5.58%$0.606101
7.71%$1.091
0.22%$3,145.96
7.51%$3,022.51
8.36%$118,104.00
6.35%$0.00917886
6.22%$0.384487
9.66%$115,804.00
4.51%$0.562148
9.27%$0.311902
9.11%$0.059497
17.55%$0.424492
4.51%$0.99793
0.03%$0.556644
8.15%$1.58
12.59%$118,237.00
6.30%$1.74
7.13%$0.999492
0.24%$0.683139
8.09%$27.26
6.91%$0.149396
22.23%$45.90
10.01%$0.01529976
9.15%$0.199728
10.44%$3,021.04
8.24%$0.999529
-0.01%$0.999786
-0.04%$0.0083708
10.73%$0.09526
22.67%$0.00486428
11.20%$2.63
9.98%$0.63389
11.71%$1.26
15.17%$3,215.89
8.26%$0.225048
0.50%$8.06
3.58%$0.424293
5.01%$48.73
7.12%$1.44
15.10%$0.999993
0.01%$6.37
8.59%$1.001
0.03%$15.67
10.04%$0.00000045
1.20%$0.175364
11.56%$0.061143
-0.44%$0.060476
22.74%$0.434941
15.45%$3,333.42
8.36%$0.360148
13.13%$6.53
16.37%$2.56
12.03%$0.00002111
8.72%$0.0045168
13.64%$1.71
9.14%$1.093
-0.00%$0.158213
8.11%$1.002
0.37%$3,305.26
8.23%$0.04110185
8.97%$0.551373
6.35%$1.002
-0.01%$116,510.00
4.97%$3,014.03
8.24%$3,012.94
8.01%$0.00724832
11.05%$0.378308
11.00%$0.385314
15.48%$0.915833
16.11%$1.26
9.61%$0.07933
14.79%$1.00
0.01%$3,013.74
8.11%$0.259063
20.31%$0.03643027
3.76%$0.790998
13.51%$117,575.00
5.73%$0.539939
6.70%$0.00006488
8.13%$181.02
5.35%$0.0180837
3.12%$0.03446794
36.28%$21.01
2.01%$1.24
10.10%$3,652.44
8.28%$127.71
7.40%$0.227006
9.03%$0.999922
0.01%$11.16
5.41%$0.773826
7.53%$0.00462493
16.22%$0.319673
5.93%$0.999631
0.04%$0.0037259
6.14%$1.002
0.20%$0.999773
-0.00%$21.17
9.15%$25.72
9.19%$0.663607
6.53%$1.00
-0.02%$0.03015842
10.26%$118,023.00
6.09%$7.02
11.09%$0.116808
9.60%$0.29504
22.71%$2,375.38
6.26%$3,162.19
8.81%Reading
A GameStop whale turned a $908,000 investment into $44 million in less than a month, according to Unusual Whales.
The trader in question purchased call options on April 24. The contracts gave the investor the option to purchase GameStop stock (GME) at $12 a share when they expired on May 17. The trader purchased 25,330 of these contracts at $0.36, each contract allowing the investor to buy 100 shares of GME at $12 per share. Their initial investment totaled $908,168.
$GME 12c 5/17 whale just closed.. 4/24 @ .36 -> 5/15 @ 21.84
$908K -> $44Mhttps://t.co/05UfeHvYnC pic.twitter.com/kWxZ5fFNTX— unusualwhales.com Snorlax (๑❛ ڡ ❛๑) (@snorlax_uw) May 15, 2024
With a contract expiration date of May 17, the trader was likely carefully watching the price of GameStop. For them to spin a profit, they needed the stock to rise above $12. When the futures contracts were purchased in April, GME was trading at $10 per share and would have needed to increase 20% for the trader to realize a gain.
Little more than a week later on May 2, GME was trading at $12. But then only five days before the contract expired, the stock’s value skyrocketed with the apparent return of Roaring Kitty.
After years of silence, the apparent return online this week of meme stock influencer Keith Gill, aka Roaring Kitty, has sent stocks and crypto assets affiliated with the streamer’s past exploits soaring—creating millions of dollars in profit for lucky traders out of thin air. But is Roaring Kitty actually back? So far, only Gill’s Twitter account has reactivated since Sunday, posting scores of movie clips re-subtitled with finance-related captions—vintage Roaring Kitty. Before this week, the...
On May 13, the meme influencer’s Twitter came alive again, reigniting interest in GameStop’s stock, seeing GME significantly rise in value, and taking related meme coins allong for the ride.
Roaring Kitty was a core figure in the 2021 GameStop short squeeze, an iconic financial event that got a retelling in the movie Netflix move “Dumb Money.”
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
The impact of Roaring Kitty’s apparent return has been pronounced. GameStop shares closed at $18 on May 10. And by May 14, had risen as high as $65.
Unfortunately for the whale in question, they missed this high. But don’t feel too bad for them. The whale sold their options the next day when the stock peaked around $42. And by selling the options onMay 15, the whale realized a $44 million profit.
These contracts were sold to another investor who will now be able to purchase 20,112,000 shares of GME at $12 a share. If that investor exercised their right to purchase these stocks at $12 and then sold at $40, the price the stock closed last night, they could profit around $550 million.
Traders who were fortunate enough to have bought in early on the latest meme stock craze are making away with huge gains. Unusual Whales, which tracks trading data, posted on Twitter the activity of one trader who invested $27,000 in call contracts on April 24 when they were priced at $0.21 a pop. The contracts then peaked at $13.63, meaning the investment would have reaped gains of 6,400%—turning $27,000 into $2 million, according to the firm. Holy, this trader turned thousands into million...
However, markets aren’t that simple. The process of acquiring and then trying to sell 20 million GME shares—roughly 7% of 305 million total outstanding shares—introduces extra risk. Once a trader has acquired the GME shares, they’d likely experience some slippage shift that many shares of a highly volatile stock.
That’s likely why the GameStop whale cashed in at $44 million, rather than getting greedy.
Edited by Stacy Elliott.
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