By Saqib Iqbal Ahmed

NEW YORK (Reuters) – A well-timed trade in GameStop’s options reaped a handsome profit on Friday after an account associated with “Roaring Kitty,” a stock influencer and longtime champion for the video game retailer, published a cryptic post on social media platform X.

The post from “Roaring Kitty,” whose real name is Keith Gill, showed an image from the 1999 film “Toy Story 2” altered to show a dog’s face placed over one of the characters.

This was the first post in more than two months from Gill, whose social media updates are eagerly followed by retail traders and often ignite a frenzy of activity in the shares and options of stocks he mentions.

GameStop shares rose as much as 9% on the day on Friday following Gill’s post. They later pared gains and were recently up 4% at $23.39.

A trader appears to have bought about 10,000 GameStop Sept. 13 call options with a strike price of $22.5 for about $1.74 million, about 18 minutes before Gill’s post which came at noon.

About 20 minutes after the tweet, two blocks of these options, 5,000 contracts each, appear to have been sold for a total of about $2.29 million.

With only about 4,300 of these contracts open prior to Friday, the position being closed was very likely the same one that had been opened minutes before, netting the trader about $550,000, or a gain of about 30%, according to Reuters calculations based on LSEG data.

“That’s a lot of short-dated calls just before a weekend, where you don’t have a whole lot of time to expiration, so you need a quick move, which also makes it a little more egregious,” said Brent Kochuba, founder of financial insights company, SpotGamma.

“It’s going to raise eyebrows, no doubt about that,” he said.

Gill did not immediately respond to a request for comment.

In June, he published a picture of a puppy on social media platform X, sparking speculation that the post could be a reference to Chewy. The stock rose to a near one-year high following the post. A regulatory filing later showed Gill had bought a 6.6% stake in Chewy three days before his post.

In July, investors in GameStop withdrew a lawsuit accusing Gill, who helped spur the meme stock mania of 2021, of defrauding them through a “pump-and-dump” scheme for the video game retailer.

On Friday, Chewy shares were up 1.5% at $26.54 after recovering from a nearly 4% drop following Gill’s post.

(Reporting by Saqib Iqbal Ahmed; Additional reporting by Suzanne McGee; Eiting by Jonathan Oatis)