Options traders are increasingly betting against Michael Saylor's Strategy (MSTR) and its preferred stock STRC, with put options far outpacing calls this week. This shift comes as bitcoin prices fell below $60,000 and concerns rise over Saylor's changing strategy, including bond buybacks and bitcoin sales. The YieldMax Short MSTR Option Strategy ETF (WNTR), which shorts MSTR stock, has gained 30% since May 11 amid these trends. Rising Treasury yields and the possibility of further rate hikes add pressure on crypto-linked assets like STRC, which recently hit its lowest price since November 2023. This bearish sentiment signals increased risk perception around Saylor's holdings and strategies.
