Bill Gross Sells GameStop, AMC Options to Cash In on Meme Mania
- “Bond King” sold calls and puts on both meme stocks Tuesday
- Trade is a bet the shares won’t swing much in either direction
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Is the erstwhile “Bond King” becoming the options king?
Bill Gross is making a habit of selling options on meme stocks, and his latest trades center on GameStop Corp. and AMC Entertainment Holdings Inc. The legendary investor said he sold calls and puts on the poster children of the meme stock mania, as the shares of both companies take off with speculators using the retail trader favorites as a way to treat the stock market as a casino.