MicroStrategy Bullish Bets Could Indicate A Cryptocurrency Rebound

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Thursday’s trading of MicroStrategy Inc. MSTR implied a move of 10%.

There was a buyer of 238 of the Nov. 11, weekly 260 calls at an average price of $11.62 per contract, Khouw mentioned.

The trader expects shares of MicroStrategy to rise by at least 7.5% by Friday expiration, he added. The company reportedly intends to continue buying and holding Bitcoins, as it builds a payments network on the Bitcoin blockchain.

Check out other stocks making moves in the premarket.

MSTR Price Action: Shares of MicroStrategy had risen by 0.085% to close at $248.44 on Thursday.