Washington, D.C. — Congressman Patrick McHenry tore into beleaguered Robinhood CEO Vlad Tenev earlier demanding an explanation to why his Bank of America call options that he got a ‘sweet tip on’ experienced a disproportionate amount of theta decay.
“Mr. Tenev will you please tell the committee why exactly my deep out of the money calls would not appreciate while the stock was moving higher. You fat cats are making it so that an honest politician like myself can’t bank some coin on these calls and that’s wrong,” said an impassioned McHenry.
Tenev sat there looking for the right answer before finally having his time finish allowing him to avoid the question.
McHenry continued to press witnesses on various option terminology and finally gave up after no one could provide the explanation he was seeking.
Check back for more Gamestop hearing updates as they develop.