Flow Review June 5, 2024: A Breakdown of Roaring Kitty's GameStop $GME options activity, and how we tracked it

In this issue, we’re going to go over the RoaringKitty GameStop $GME position saga, and show how we tracked his entries and current holdings using Unusual Whales Flow and Net Premium tools. We’ll also show how to set up an alert for his position to see if any sizable transactions occur!

Keith Gill aka RoaringKitty/DeepFuckingValue recently revealed his massive position in Gamestop on the r/SuperStonk subreddit, including 5,000,000 commons, and 120,000 call contracts.

Over the last several weeks since Roaring Kitty’s return and the last Gamestop pop, Unusual Whales and members of the Unusual Whales community have been closely monitoring unusual options activity for the gaming phenom. One strike in particular garnered a lot of attention; the $20 call strike expiring on June 21, 2024.

The position in the $20 call started building on May 20th, when nearly 10,000 contracts carried over into open interest at an average fill price of $4.74 per contract while GameStop traded at just $20.32 per share. Over the next two weeks, this position grew significantly, with 65,000 contracts carrying into open interest from 5/22 to 5/23 at an average of $5.97 per contract. You can even see these spikes in volume in the Unusual Whales Net Premium tool for $GME.

By May 31st, the total open interest had grown to over 144,000; 120,000 of which sit in the portfolio of Keith Gill. Totaling over $68 million dollars of investment.

Unusual Whales tracked this position in real time, and summarized the day-to-day play-by-play. We can see that Keith added between $2 and $4 million dollars worth of contracts every single day since May 20th, leading up to the big reveal on Sunday June 2nd.

At market open of June 3rd, GME traded as high as $40.09 per share. The value of the $GME $20C 6/21/2024 ripped as high as $21.10 per contract. At the morning’s peak, Roaring Kitty’s position, worth around $68 million as of Friday, May 31st, was worth as much as $253 million dollars; a 272% gain from his original entry cost.

Despite all of this….

He had not sold.

At the time of writing, on June 5th, we can clearly see that the Open Interest of the $20C 6/21/2024 hasn’t budged, and the daily volume each day since the announcement has been quite low, comparatively. So, we know for a fact that this massive 120,000 contract position is still open. 

At the time of writing, the $20C 6/21/2024 last traded at $9.84 per contract. The current value of his options position sits around  $118,000,000; or +65% from his average contract price of $5.97.

You can follow along with RoaringKitty’s portfolio on Unusual Whales here: https://unusualwhales.com/portfolios/roaring-kitty-aka-deepfuckingvalue

Or, you can build your own alert for the contract yourself, by following the guide from the Unusual Whales YouTube, here: 

NOTE: This post is not financial advice. The stock market is risky, and any trade or investment is expected to have some, or total, loss. Please do research before any trade. Do not use this information for investment decisions. Check terms on site for full terms. Agree to terms before considering this information.