According to ChainCatcher, 10x Research is bullish on the put options for Strategy (MSTR), as the stock price of this Nasdaq-listed Bitcoin holding company has diverged from the rising Bitcoin price.
10x Research recommends buying put options with a strike price of $370 while selling put options with a strike price of $300, both expiring on June 27.
Markus Thielen, founder of 10x Research, stated that this reflects a disconnection between Bitcoin's strong performance and the weakening momentum and volatility of Strategy, as MSTR's stock price remains well below its peak despite Bitcoin hitting an all-time high.
