'Buying Call Options Is Not Illegal': Professional Trader Calls Potential Roaring Kitty Ban 'Absurd'
Portfolio Pulse from Aaron Bry
Morgan Stanley's E-Trade is reportedly considering a ban on Keith Gill's trading account due to potential stock manipulation after he disclosed a significant position in GameStop. Professional trader Dennis Dick criticized the potential ban, arguing that buying call options is not illegal. Gill's recent social media activity and disclosure of his GameStop position led to a significant increase in GameStop's stock price.
June 04, 2024 | 8:32 pm
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NEGATIVE IMPACT
Morgan Stanley's E-Trade is considering a ban on Keith Gill's trading account due to potential stock manipulation. This scrutiny could impact investor confidence in E-Trade's platform.
The potential ban on a high-profile trader like Keith Gill could lead to negative sentiment among investors regarding E-Trade's platform, potentially affecting Morgan Stanley's stock price negatively in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Keith Gill's disclosure of his significant position in GameStop led to a substantial increase in the stock price. This could attract more retail investors and increase volatility.
Keith Gill's significant position in GameStop and his influence on retail investors led to a sharp increase in the stock price. This is likely to attract more retail investors and increase short-term volatility, potentially driving the stock price higher.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100