On September 18, T-Rex 2X Long MSTR Daily Target ETF rose 8.14% in pre-market trading to $33.17/share, with turnover of $975,500. As a 2x daily leveraged ETF tracking MicroStrategy (MSTR), the move closely mirrors the underlying stock's prior-session strength.
The rally follows MicroStrategy's 4.81% gain to $132.25 during the previous session, part of a broader crypto-sector rebound in which MSTR rose over 5%, Coinbase and Circle each gained over 4%, and Bullish surged over 8%. Bitcoin prices had recovered above $81,000 earlier in the month, providing a tailwind to crypto-linked equities.
However, options market activity signals caution. On September 18, a single $11.65 million in-the-money put purchase on MSTR marked the most prominent directional bet of the day, while consecutive sessions have featured large bearish structures including a $11.73 million dual-sell call combination and cross-tenor short premium strategies. Notably, Strategy has paused bitcoin purchases for two consecutive weeks and holds 845,050 BTC alongside $6.5 billion in USD reserves. Meanwhile, leveraged MSTR ETFs — both long and short — have declined over 90% since inception due to volatility decay, underscoring the structural risks of daily-reset products in high-volatility environments.
(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.)