MicroStrategy stock suffers mega crash after put options fiasco

As Bitcoin (BTC), the world’s largest cryptocurrency, continues its fluctuation after recently pulling back to the $63,000 mark. In response, MicroStrategy (NASDAQ: MSTR) stock saw a significant drop of over -13% since the markets opened on March 19.The losses extended to as much as -20% from when options traders opted to sell off MSTR stock, effectively shorting it via weekly put orders. This move coincided with a bet against the stock’s performance, driven by the declining price of BTC, as over $230 billi ...