You are getting ORA-01720: grant option does not exist for SCHEMA.SOME_TABLE while trying to execute CREATE OR REPLACE VIEW V_MY_VIEW because you added the new table SOME_TABLE residing on a different schema and you lack privileges on SOME_TABLE. The you go and ask for SELECT privilege on the table SOME_TABLE with GRANT OPTION.
After obtaining the privilege you retry the operation but you still get:
ORA-01720: grant option does not exist for SCHEMA.SOME_TABLE
This happens because since version 11g you cannot simply replace a view containing a newly added table even if you have the SELECT privilege WITH GRANT OPTION.
You need to DROP VIEW V_MY_VIEW first and then re-create it.
The error message is misleading to say the least, a more specific error should be raised instead in these situations.
See message translations for ORA-01720 and search additional resources.
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