Proprietary trading firm Group One Trading enters the market! Purchases 1.3 million shares of MicroStrategy call options.
According to documents filed yesterday with the U.S. Securities and Exchange Commission (SEC) by Chicago-based options trading firm Group One Trading, the company purchased call options on over 1.3 million shares of MicroStrategy Class A common stock (valued at approximately $237 million).
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According to documents submitted to the U.S. Securities and Exchange Commission (SEC) yesterday by the Chicago-based proprietary options trader Group One Trading, the company purchased over 1.3 million shares of MicroStrategy Class A common stock worth approximately $237 million in stock options.
Note: The document mentions that Group One Trading beneficially owns about 1.26 million shares, representing 13.49% of total shares, making it the second largest shareholder of MicroStrategy. However, it is not yet clear how the beneficially owned portion relates to the 1.3 million stock options.
MicroStrategy is widely known as the entity with the largest holding of Bitcoin, with approximately 132,500 bitcoins as of December 28. Therefore, Group One Trading's bullish outlook on MicroStrategy can also be seen as an indirect investment in Bitcoin.
In 2022, MicroStrategy's stock price experienced a sharp decline along with Bitcoin. Bitcoin plummeted from around $48,000 in late March to $16,500 by the end of the year, causing MSTR to drop by over 70%. As we enter 2023, with Bitcoin rebounding, MicroStrategy's stock price has risen by over 30%.
