The stock market is a wild, unpredictable beast, where fortunes can be made or lost in the blink of an eye. One man who knows this all too well is Keith Gill, better known as “Roaring Kitty,” the Reddit trader who shot to fame during the 2021 meme stock frenzy.
Gill’s recent revelation of a massive $116 million bet on GameStop options has once again captured the attention of Wall Street and Main Street alike. With the stock soaring and Gill potentially sitting on millions in paper profits, the question on everyone’s minds is: how will he cash out?
Exiting such a large options position is no easy feat, especially when the whole world is watching. Selling off a chunk of the options could draw unwanted attention and drive down prices. Taking delivery of the underlying shares, on the other hand, would require significant capital.
One possible strategy for Gill could be to short GameStop shares before the options expire. By selling borrowed shares and then buying them back at a lower price, he could potentially walk away with a hefty profit, all while maintaining his reputation as a diamond-handed investor.
As the saga of Roaring Kitty and GameStop continues to unfold, one thing is clear: the world of meme stocks is showing no signs of slowing down. Whether you’re a seasoned investor or just along for the ride, the thrill of the stock market never fails to captivate.
