Bitcoin Selloff Triggers Strategy Stock Slide, Forecast Cut

Core Insights - Strategy Inc (NASDAQ:MSTR) has seen a significant decline, trading down 10.8% to $158.95, largely due to the drop in Bitcoin prices, which are now below $87,000 [1] - The company has revised its full-year outlook for 2025 and plans to implement supportive dividend payments as a reserve [1] - MSTR has experienced a 45% decline in 2025 and has closed lower in 11 of its last 15 trading sessions [1] Options Activity - MSTR has been among the stocks with the highest options volume, with 4,232,270 calls and 2,811,201 puts exchanged in the last 10 days [3] - The most popular options during this period were the weekly 11/28 200-strike call and the November 210 call [3] Stock Performance and Analyst Ratings - MSTR reached an 18-month low of $155.61 and is down 45% in 2025 [6] - Despite the decline, 13 out of 15 brokerages covering MSTR maintain "buy" or better ratings, with a consensus 12-month price target of $529.18, indicating a 232% potential upside from the current price [6] - The stock's Schaeffer's Volatility Index (SVI) is at 75%, suggesting that options are currently priced with relatively low volatility expectations [7]