The 10x Research team led by Markus Thielen has just recommended a bear put spread strategy on Strategy (MSTR) stock, including buying a put option at a strike price of $370 and selling a put option at a price of $300, expiring on June 27. This strategy will be most profitable if the MSTR price drops below $300, reflecting a bearish view of the stock.
Despite Bitcoin continuously reaching peaks above 110,000 USD last week, MSTR stock fell by 7%, closing at 369 USD, far from the historical peak of 543 USD in November last year. This divergence indicates that the stock price is no longer keeping up with Bitcoin’s upward momentum, raising concerns within the investment community.
MicroStrategy currently holds over 576,000 BTC, making it the publicly listed company with the largest amount of Bitcoin. Thielen believes that the divergence between stock prices and Bitcoin signals a cooling off of traditional investors towards digital assets. He emphasizes that this is not only a speculative opportunity but also a risk management measure for long-term positions on Bitcoin.
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