MSTR: collect 2.55% premium on this sell call with strike at $400.
Contract expires next Fri on 16th May.
With BTC reached $98k in the most recent run up and then slightly retraced for the next 3 days, it had formed the current top.
Setting $98k to $100k to be temporary resistance zones to formulate this trade.
MSTR in turn touched $400 then retraced back down following BTC. Earnings volatility on 1st May had also passed and subsided so that removed some levels on uncertainly and allows me to come back into the trade.
The last time I traded was contracts that expired on 17th April and waited till earnings is over and escaped the run up nicely as I tend to trade on the short side.
Now that the price is higher, my risk reward is adjusted and I'm back in.
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