According to BlockBeats, 10x Research has expressed optimism about bearish options for MicroStrategy (MSTR), a Nasdaq-listed company known for its Bitcoin holdings, due to a divergence between its stock price and the rising Bitcoin value.
In a report sent to clients, 10x Research recommended a bearish spread strategy for MSTR, involving the purchase of put options with a strike price of $370 and the sale of put options with a strike price of $300, both expiring on June 27.
Markus Thielen, founder of 10x Research, explained that this strategy reflects the growing disconnect between Bitcoin's strong performance and the weakening momentum and volatility of MicroStrategy. Despite Bitcoin reaching new highs, MSTR's stock price remains significantly below its peak, indicating waning investor enthusiasm.
