Trade: Long MSTR

The next stage for macro

After months of Bitcoin and MSTR traders getting absolutely destroyed, we are approaching a short-term inflection point in positioning. You will notice that implied volatility premiums blew out when MSTR hit its high at the end of last year. Since this time, we have been trading in a range as implied vol premiums turn negative.

If you are trying to understand positioning premiums, check out this primer:

As we progress through the next 90 days, we are likely to move HIGHER as the complacent positioning turns into traders chasing again.

Total call open interest minus total put open interest (green) is already pushing higher which is likely to fuel a gamma squeeze if there is any marginal push-up in Bitcoin.

Once call vs put volume makes a spike, we are likely to be off to the races.

I will be tracking this trade and others in real-time for paid subscribers (this will be added to the spreadsheet, which I will update at the close). I am also in the process of writing the next comprehensive macro report that systematically breaks down all of the moving variables for the macro regime and explains WHERE we are going.

This is the part where things are about to get fun:

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