MicroStrategy Bullish Bet Could Indicate A Cryptocurrency Upswing – MicroStrategy (NASDAQ:MSTR)

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On CNBC’s “Settings Action, Michael Khouw of Optimize Advisors said that Thursday’s trading with MicroStrategy Inc. MSTR implied a movement of 10%.

There was a buyer of 238 of the Nov. 11, weekly 260 calls at an average price of $11.62 per contract, Khouw mentioned.

The trader expects shares of MicroStrategy to rise at least 7.5% by the close on Friday, he added. The company reportedly intends to continue buying and holding Bitcoins as it builds a payment network on the Bitcoin blockchain.

Check out other stocks making moves in the premarket.

MSTR price action: Shares of MicroStrategy traded up 0.085% to close at $248.44 on Thursday.

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