BlockBeats News: On May 26, CoinDesk reported that 10x Research is bullish on put options on Strategy (MSTR) as the Nasdaq-listed bitcoin holding company’s share price diverged from the rising bitcoin price. In a note sent to clients, 10x Research recommended a put spread strategy for MSTR by buying a put option with a strike price of $370 and selling a put option with a strike price of $300, both expiring on June 27. “This deal reflects a widening disconnect between Bitcoin’s strong performance and MicroStrategy’s weakening momentum and volatility.” Explaining the bearish spread strategy, Markus Thielen, founder of 10x Research, said, “Despite Bitcoin’s all-time highs, the MSTR share price is still well below its peak, suggesting that investor enthusiasm is waning.”
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