Activision CEO Kotick and Co-Chairman Kelly profit from stock options

It is a good time to be the always-controversial Activision CEO Bobby Kotick.

According to Games Industry Biz, Kotick exercised stock options on 1.93 million shares allowing him to buy them for $1.03 and sell them for between $11.43 and 11.54 each.

Also making a pretty penny through stock options this week was one of Activision’s directors, Brian Kelly. He exercised options that cost him $5.1 million to acquire and sold for $15.6 million. These moves were made Wednesday (November 11, 2009), a day after the release of Call of Duty: Modern Warfare 2, which made an estimated $310 million in the United States and United Kingdom on its first day.