GameStop turned its $368 million bitcoin stash into an options income play

The video retailer sparked speculations of selling bitcoin after it transferred nearly all its coins to Coinbase Prime in January. What to know : GameStop disclosed that nearly all of its 4,710 bitcoin were pledged to Coinbase as collateral for a covered-call options strategy, rather than being sold. The company wrote short-dated call options with strike prices between $105,000 and $110,000 to generate premium income, capping its upside on bitcoin, while maintaining exposure. As a result of the maneuver, GameStop no longer holds its bitcoin and now records it as a receivable rather than as a directly held asset.(Coindesk)