10x Research: Bullish on Strategy Put Options, Its Stock Price Well Below Peak Indicates Waning Investor Enthusiasm

According to ChainCatcher, as reported by CoinDesk, 10x Research is optimistic about the put options for Strategy (MSTR) because the stock price of this Nasdaq-listed Bitcoin holding company has diverged from the rising Bitcoin price.

In a report sent to clients, 10x Research suggests adopting a bearish spread strategy on MSTR, which involves buying put options with a strike price of $370 while selling put options with a strike price of $300, both expiring on June 27.

"This trade reflects the growing disconnect between Bitcoin's strong performance and the weakening momentum and volatility of MicroStrategy," explained Markus Thielen, founder of 10x Research, when discussing the bearish spread strategy. "Despite Bitcoin reaching an all-time high, MSTR's stock price remains well below its peak, indicating waning investor enthusiasm."