MSTR Key Levels & Options as Company Builds Bitcoin Treasury

Core Insights - Strategy's shares have increased by approximately 5% following a recent at-the-money offering, raising $128.1 million and acquiring 196 Bitcoin for about $22.1 million at an average price of $113,048 per Bitcoin [1] - As of September 28th, the company holds around 640 Bitcoin with an average purchase price of $73,983 [1][6] - The company has demonstrated significant long-term growth, with a 2300% gain from a low point of 1326 to its current level [4] Company Performance - Strategy has outperformed other companies in the crypto sector, such as Coinbase, Riot, and Marathon, over a three-year period [5] - The company's Bitcoin holdings are valued at approximately $69.5 billion, although critics argue that these gains are not liquid and could lead to market instability if cashed out [5][6] Technical Analysis - The current chart indicates a bullish pattern, with a falling wedge shape suggesting potential for a breakout [8] - Key resistance levels are identified at 358 and 400, with significant trading activity around the 330 level [9][10] - The expected price movement for October 17th is projected to be ±12.6% within 18 days, indicating potential volatility [12] Options Activity - A total of 383,000 options were traded, with two-thirds being calls, although current activity is below the five-day moving average [13] - Notable trades included large positions in October 3rd calls with a total debit of $24.7 million, indicating significant short-term trading interest [14][15]