GameStop Just Exercised $3.97B in eBay Calls, Acquiring ~39M Shares in Cash (13D Filing)
u/Tillovich ·
Reddit — r/stocks
· July 18, 2026 at 11:05
· ⬆ 88 pts
· 💬 36 comments
| View on Reddit ↗
AI Summary
Summary
GameStop exercised put/call pairs to acquire ~39M shares at an average strike of ~$101.33, paying ~$3.97B in cash from working capital.
The author reports a 13D filing, highlighting a massive share purchase by the company itself, effectively a large buyback.
Quality assessment: Well-researched DD based on an official SEC filing, factual and not speculative.
Score88
Comments36
Upvote %90%
▶ Full Post Text
On July 15, 2026, GameStop notified the Issuer that it was electing to physically settle all of the 39,046,658 shares of Common Stock underlying the Put/Call Pairs, which such physical settlement occurred July 17, 2026. The total net premium paid, in the aggregate, by the Reporting Person for the 39,046,658 Put/Call Pairs was $9,832,906.61 and the final strike price, on an aggregated and averaged basis, was $101.295333. The total consideration paid to acquire the 39,046,658 shares underlying the Put/Call Pairs was $3,965,077,113.19. The source of funds used by GameStop to physically settle such shares of Common Stock was cash from its working capital.
TL;DR: Gamestop just bought \~39 million shares via calls with a $101 strike price.
GameStop spent ~$3.97B to acquire 39M shares at ~$101.33 per share, as disclosed in a 13D filing. This de facto buyback dramatically reduces the float and signals management’s confidence in undervaluation, creating upward price pressure. Bet on continued price appreciation as the market reprices GME after this major share reduction. If the broader market turns bearish or if GameStop’s core business continues deteriorating, the buyback may not sustain the price.