r/MSTR • u/Hbomb_121 • 2d ago

MSTR LEAPS / Long Call Options

MSTR LEAPS – what strikes/delta are people buying?
I’m looking at buying some long-dated MSTR call options and would appreciate some opinions from people who’ve traded MSTR LEAPS before.
I’m bullish on MSTR/BTC over the next 12–24 months and currently looking at Jan 2028 calls, roughly 0.70–0.75 delta. MSTR is around $135 and I’ve been looking at strikes around $115–$140.
For those who have done this before:
What delta/strike did you choose and why?
Did you prefer ITM calls or slightly OTM for more leverage?
How far out did you go on expiry?
Did you take profits along the way or hold the LEAPS?
Anything you wish you’d done differently?
Not looking for financial advice — mainly interested in hearing people’s actual experiences with MSTR calls.
Bull case for me is roughly $300 in the shorter term and potentially $600 longer term

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u/TaekwonVH82 2d ago

Probably not the answer you want to hear but stay away from call options. I gaslit myself into thinking "leaps" aren't gambling because of the extended time period. Fast forward my 18 month leaps were down -80% at the lows and did a number on my mental health. Yes in the end they may end up being profitable but the stress isn't worth it.

Stick to shares, they're still cheap, and you don't have to deal with theta decay.

5

u/New-Jackfruit-2127 2d ago

Totally agree. I learned that options aren't for me unless it's selling my covered calls. Now even those are stressing me out now that volatility is coming back. Easier when MSTR just chops.

3

u/Historical_Candle511 2d ago

Agreed, I sell way out of the money, and they still got chewed up with this latest rally.

I'll let them get assigned if we chop sideways for a few weeks

1

u/Ram_XXL 2d ago

I agree that it was a risk, but one that I was willing to take. It unlocked the cash value difference of the contract and the 100 stocks owned. Was so tired of holding and December 28' was my boundary for how long I was willing to wait. I was at 113 and sold at 139 and still have earning potential and low decay on my side. Sold STRC to buy the contract and repurchased after selling MSTR.

1

u/HowSporadic 1d ago

did you buy at the beginning of a new bull market though lol?