It seems as though the recent increase in Gain Capital’s share price, following the company’s announced $118 million acquisition of City Index and stellar Q3 results, provided a good reason for a Gain Capital executive to sell some stock.
In an SEC filing Gain Capital (NYSE:GCAP) has indicated that its CMO Samantha Roady, who technically holds the title of Chief Commercial Officer, recently exercised some deep in-the-money options, and immediately sold the shares she received.
On November 11 Roady exercised options to acquire 8,000 shares at a cost of $3.83 per share. She immediately turned around and sold the shares for prices averaging $8.91, turning an overall profit of $40,663. The options exercised didn’t expire until 2020.
This is Roady’s third sale of GCAP shares over the past few months, after another options exercise/sale in September and a share sale in October. In total, Roady has pocketed about $207,000 from these sales. She continues to own 162,643 Gain Capital shares worth about $1.45 million.
Gain Capital’s Forex.com brand has been posting record retail volumes in recent months, as increased volatility in the currency markets since the beginning of September have brought traders back to their screens and interest in FX trading has taken off globally.
The SEC filing detailing the exercise and sale can be viewed here.