BlockBeats News, May 26th. According to CoinDesk, 10x Research is bullish on Strategy (MSTR) put options as the stock price of this Nasdaq-listed Bitcoin-holding company diverges from the rising Bitcoin price.
10x Research advised in a report sent to clients to take a bear put spread strategy on MSTR, which involves buying put options with a strike price of $370 and simultaneously selling put options with a strike price of $300, both expiring on June 27th.
"This trade reflects the increasingly widening disconnect between Bitcoin's strong performance and MicroStrategy's momentum and decreasing volatility," explained Markus Thielen, founder of 10x Research, when discussing the bear put spread strategy. "Despite Bitcoin hitting an all-time high, MSTR's stock price remains well below its peak, indicating waning investor enthusiasm."
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