Social Capital co-founder and CEO Chamath Palihapitiya has made a name for himself identifying excellent high-growth companies and taking them public using special purpose acquisition companies (SPACs). Now, the noted investor is looking to profit from the recent gyrations of GameStop (NYSE: GME) stock. In a post on Twitter (NYSE: TWTR) Tuesday, Palihapitiya said, "Lots of [GameStop] talk, soooooo .... We bought Feb $115 calls on [GameStop] this morning. Let's gooooooo!!!!!!!!" Image source: Getty Images. Buying calls is an options strategy investors can use when they believe a stock will rise. Palihapitiya's position suggests that he believes the stock could gain as much as 50% from Monday's close -- and do it in less than a month. The post was a follow-up to one on Monday in which Palihapitiya said, "Tell me what to buy tomorrow and if you convince me I'll throw a few 100 k's at it to start. Ride or die." GameStop has been a battleground stock in recent weeks. Shares were selling for as little as $17.25 earlier this month, but several catalysts conspired to send them soaring. News broke on Jan. 11 that activist investor and Chewy (NYSE: CHWY) co-founder Ryan Cohen and two of his associates had gained seats on GameStop's board. Cohen's firm, RC Ventures, had amassed a 13% stake in GameStop last year, making it the company's second-largest shareholder. Cohen's success with online retailer Chewy has given investors hope that he could help steer GameStop toward similar e-commerce results. The drama took another turn late last week when a tug-of-war broke out between noted short-seller Citron Research and a group of investors on the subreddit r/WallStreetBets. Citron editor Andrew Left eventually threw in the towel on Friday as the short squeeze that the online group had sparked continued. GameStop has gained more than 375% so far this year and was recently trading above $100 as investors bet on a turnaround for the company. Palihapitiya has now joined the fray. 10 stocks we like better than GameStopWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and GameStop wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Danny Vena has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Twitter. The Motley Fool recommends Chewy, Inc. The Motley Fool has a disclosure policy.Source