Trader Turns $27,000 into $2 million Amidst GameStop Frenzy

The post Trader Turns $27,000 into $2 million Amidst GameStop Frenzy appeared first on Coinpedia Fintech News

An anonymous trader made phenomenal profits by purchasing $25 call options on GameStop at an average price of $0.21, spending $27,000 on the contracts. His investment paid off significantly when the price of each call option soared to $48.75 on May 13, resulting in an unprecedented 6400% return. His initial $27,000 investment turned into an outstanding $2 million amidst the renewed GameStop frenzy. This highlights the high potential rewards of options trading in favorable market conditions. GameStop has surged this month, jumping over 200% in the last 30 days. While this investment worked out well for this trader, 9 out of 10 people in the options market lost money.