Options Bulls Holding Strong On Climbing Strategy Stock

Strategy shares up 1% to trade at $160.16, as the cryptocurrency company celebrates another Bitcoin (BTC) purchase. As the cryptocurrency's largest corporate holder, Strategy carries 847,000 BTC valued at $64 billion.

The stock is poised to snap a three-session losing streak. Shares are up just 5% year to date, but are up 95% since trading at roughly two-year lows in late June.

Per Schaeffer's Quantitative Analyst Rocky White's list of stocks sporting the most active options over the past two weeks, MSTR saw more than 5.7 million calls and 2.2 million puts exchanged during this time frame. The security sports a 50-day call/put volume ratio of 2.28 on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio stands higher than 94% of all other readings from the past year, hinting at a much healthier-than-usual appetite for bearish bets over bullish of late.

MSTR stock sports cheap options too, per its Schaeffer's Volatility Index (SVI) of 65% which stands higher than just 4% of readings from the past year, implying that near-term options traders are pricing in relatively low volatility expectations. What's more, Strategy stock Schaeffer's Volatility Scorecard (SVS) also sits at a relatively high 99 out of 100, indicating the equity has tended to exceed options traders' volatility expectations during the past year.