Option Witch | Upexi Soars on Solana Bet — Sell Puts to Ride the Momentum

Upexi plans a $100 million fundraising to boost its SOL holdings while maintaining prudent risk management and avoiding speculative leverage. To capitalize on the momentum cost-effectively, consider sell put strategies.

Upexi Stock Surges, the Firm Is Bullish on Solana

UPXI is up big on Wednesday, rising 39.6% to $7.26. Shares continued to rise 9% in premarket trading on Thursday. Solana (SOL) has jumped nearly 7% on the day to $173. Earlier Wednesday, Solana hit its highest price in more than a month.

Publicly traded consumer products firm Upexi made a strategic decision to create a digital assets treasury in April, raising $100 million to buy Solana, promptly sending its share price skyrocketing. Now months later, the firm is raising another $200 million in part to acquire more SOL.

Upon the closing of its latest fundraising rounds, Upexi anticipates having approximately 1.65 million SOL in its treasury, which would make it the largest publicly traded Solana treasury with a value of around $284 million, based on today’s Solana price. 

Upexi Endorses Solana Blockchain for High Performance

Upexi's Chief Strategy Officer, Brian Ru**, has publicly endorsed Solana as the leading high-performance blockchain. In a recent interview, Ru** highlighted Solana's superior performance, achieved through innovative technologies such as parallel transaction processing. He noted that since its launch in 2020, Solana has built a robust network effect, positioning it as a strong contender in the blockchain space.

Ru** elaborated on Upexi's business strategy, which focuses on increasing the per-SOL holding through a multi-value accumulation mechanism. This approach primarily involves value-added fundraising, driven by the belief that the SOL price will appreciate in the long term. Given the strong investor subscription intentions and the current stock trading price being higher than the book value, advancing a $100 million financing round was deemed a rational decision.

Option Strategy: Sell Put

Strategy: Sell Aug 15, 2025 $7.5 Put

$UPXI 20250815 7.5 PUT$

Critical Factors

1. Crypto Volatility: UPXI’s valuation now 80% tied to SOL price. SOL’s 24h volatility: 12.4%.

2. Dilution Risk: $200M fundraising via equity/notes could increase shares outstanding by 18%.

3. IV: IV percentile at 89% implies potential volatility.