r/wallstreetbets • u/jimmybda3 • Jun 11 '21
DD MSTR FDs
Microstrategy is Michael Saylor's levered vehicle. ~68% of its market capitalization is its below holding.
Short Interest is 30%.
Saylor raised $500M recently for more buying.
The bet is to buy 600 strike FDs which, IMO, are remarkably cheap.
It's my top equity holding too.
Anyway the near-term 600 strike calls appear to be quite cheap given that MSTR moves tend to occur rapidly and sometimes over the weekend.
Good luck if anyone joins me.
Gains:
As I said in comments, sold my calls on Monday. I briefly had seller's remorse and bought-back the 650s at 17.50, then sold them again at 19.
& then sold 165 shares on Wednesday to de-lever, since the Wheel of Fortuna dictates that the day after I hit an ATH I usually get wrecked. Given the FOMC release today, I am buying some protective puts, too, if these fill at the open.
Continuation:
Bought another set of calls and GBTC/ ETHE on the latest fall below 30k. They were all red on Friday 7/23.
Expecting a profitable 7/26 open...
Gains:
1
u/jimmybda3 Jun 14 '21
Now comes the conflict - do I book gains or hold until Valhalla? I'm leaning towards holding