GameStop may have surrendered $31 million in Bitcoin gains via options trade

GameStop's covered-call strategy on approximately 2,000 BTC, with a strike price of $70,000, may have limited the company's potential gains as Bitcoin's market price surged past $85,000. While the strategy generated premium income, the rally suggests a potential upside of roughly $31.3 million was surrendered. It remains unclear if these positions were closed or rolled since the company's August 1 disclosure.