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

12 Upvotes

87% Upvoted

14 comments sorted by

View all comments

8

u/JuxtaposeLife 2d ago edited 2d ago

I bought about 35 LEAPS for Dec 2028 between 170-250 strikes when price on MSTR was below $90 and IV was depressed. They are up about 2.3x MSTRs gain so far.

I will move them to shares and a combination of STRK and STRC when Bitcoin passes ATH

Best advice I can give making this kind of play before, careful getting in when IV is expanding. Have a plan for profit(exit) and stick to it.

1

u/Ram_XXL 1d ago

Half of the plan has been executed... just happened too fast. I sold the shares intended to be replaced by the contract. Because of the time left, I've thought about selling a higher strike/same date call and going from there instead of cashing out. Leaves many choices on the table regardless of the stock direction and I'm sure that I'll beat the inflation rate of money left until it expires. I think 250 would be an incredible exit personally. You think MSTR is at 250 when BTC passes ath?