By Krystal Hur
Options activity around MicroStrategy is going gangbusters.
Trading volumes of the bitcoin-holding firm's options contracts hit a record high on Thursday before declining on Friday, Cboe Global Markets Data show.
The activity in the options market has been largely bullish. Some of the most actively traded MicroStrategy options contracts in recent days have been calls tied to the stock jumping to $450 and $500, according to Cboe. Calls confer the right to buy a stock at a set price.
MicroStrategy shares jumped 11% Friday to $441.93 after dropping 16% during the previous session. The stock has surged to record highs in recent weeks after crypto-ally Donald Trump was elected U.S. president.
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(END) Dow Jones Newswires
November 22, 2024 13:59 ET (18:59 GMT)
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