On September 21, Strategy rose 3.1% in pre-market trading, trading at $159.11/share, with turnover of approximately $33.28 million. The stock continues its strong upward trajectory after surging 48% over the past month, making it the best-performing Nasdaq 100 constituent.

On the options front, a rare $135 million simultaneous double-buy deep in-the-money CALL combination emerged alongside a $5.99 million bull call spread, signaling that large-capital investors are aggressively expanding bullish exposure at high cost. The implied volatility stands at 77.28% with IV percentile at 21.91%, suggesting options pricing remains relatively cheap, potentially encouraging further bullish positioning.

Meanwhile, multiple investment banks have recently raised their price targets on Strategy. Barclays lifted its target to $160, B. Riley adjusted to $175, Canaccord Genuity raised to $179, and Alliance Global Partners initiated coverage with a Buy rating and a $217 target. The analyst consensus mean target stands at $230.83.

Fundamentally, Strategy continues to expand its Bitcoin treasury, now holding 845,050 BTC at an average cost of $75,412 per coin, with approximately $2.54 billion in unrealized gains. The company has raised roughly $20.9 billion year-to-date through equity issuances, ranking fourth among U.S. stock issuers.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)