Options Income Strategy | BTC briefly breaks $80,000, igniting crypto stocks! MSTR surges 11.5% in a single day, challenging the 200-day moving average

1. Strategy: BTC briefly returns to $80,000; leveraged crypto stocks surge 11.5% in a single day

$Strategy (MSTR.US)$ Closed up 11.54% on Thursday at $137.40, with an intraday high of $139.78. The volume ratio was 1.19, turnover rate 12.20%, and amplitude 12.43%.

Technical Analysis:

From a technical perspective, $Strategy (MSTR.US)$ After hitting a low near $82 in late June, the stock underwent nearly two months of bottom consolidation, repeatedly forming a base in the $82–$105 range. This week, it saw three consecutive days of heavy-volume breakouts, with the price surpassing the upper boundary of the previous consolidation range (around $105), showing a strong short-term breakout pattern.

Thursday's trading volume reached $6.007 billion, significantly higher than the previous daily average range of $1–$2 billion, indicating sustained capital inflows. The current share price is approximately 32% above the 20-day moving average, and the RSI has reached 73.11, entering overbought territory, which raises the risk of chasing highs in the short term. Keep an eye on the key resistance level near the $150 integer mark above.The 200-day moving average is located near $141.60, serving as a watershed for the medium-term trend.

News Analysis:

On the news front, the core catalyst came from $Bitcoin (BTC.CC)$ The price strongly broke through $80,000. On Thursday, Bitcoin surged past $80,000 and further broke through $81,000, leading to a broad rally in the crypto sector. $Strategy (MSTR.US)$ As the largest publicly listed company holding Bitcoin, its stock price is highly correlated with Bitcoin.

Key variables to watch include whether Bitcoin can stabilize near $80,000 and break out further upward, legislative progress on the 'Clarity Act,' and signals regarding the interest rate path from the Jackson Hole Central Bank Symposium.

Major Bank Views:

Among 13 analysts, 92.31% gave a Buy rating, 7.69% rated it Hold, and there were no Sell ratings. The average target price is $253.17, with a low of $125 and a high of $540. Recently, Bernstein lowered its target price from $450 to $350, while Canaccord Genuity raised its target from $130 to $175, indicating significant divergence in target prices.

2. Short Option Strategies

1. IV Analysis

Currently, $Strategy (MSTR.US)$ Option IV is 80.46%, with an IV percentile of 46.83%. Compared to the previous trading day's IV of 75.96%, implied volatility has risen but remains at a historical median level. Total option volume on Thursday reached 840,200 contracts, including 576,900 call options and 263,300 put options, with calls accounting for 67.18%, indicating bullish capital sentiment.

2. Cash Secured Put

Sell 1 contract of $Strategy (MSTR.US)$ 2026-09-04 $120 Put, and reserve sufficient cash for potential assignment.

Opportunity screening logic:

$Strategy (MSTR.US)$ Continuous rally with RSI entering overbought territory; significant risk of chasing highs in the short term. $Bitcoin (BTC.CC)$ Breaking through $80,000 provides strong catalyst, but the probability of high-level consolidation increases. If investors are bullish on MSTR but have not yet established a position, they can consider selling Puts. If there is a pullback, enter at $120 as planned; if it consolidates at high levels, collect premiums to enhance capital returns.

3. Covered Call

Hold 100 shares $Strategy (MSTR.US)$At the same time, sell 1 contract of MSTR 2026-09-04 $165 Call

Opportunity screening logic:

MSTR shows strong short-term breakout momentum, but RSI is overbought and approaching the 200-day moving average, increasing pressure for a pullback. Investors already holding positions who remain bullish on MSTR can consider selling Calls to collect premiums and lower their cost basis. If the price rises above the strike price, it locks in阶段性 gains; if it consolidates or pulls back from highs, the premiums hedge against drawdowns.

3. Risk Control Notes

Although short-option strategies generally have a high probability of profit, investors must still implement sound risk management:

- Position management is core.The biggest risk for sellers lies in black swan events. It is recommended that margin usage for a single underlying asset does not exceed 20% of total capital. Do not sell options beyond your capacity to take delivery just to chase premiums.

- Pay attention to rolling positions for Covered Calls.When a Covered Call is deep in-the-money, if you remain bullish on the underlying stock, consider buying to close the current option and simultaneously selling an option with a further expiration date and a higher strike price to avoid having the underlying stock forcibly sold at a low price.

- Be wary of left-tail risks when selling Cash-Secured Puts.If the stock price drops significantly due to deteriorating fundamentals, do not mechanically hold on. Instead, cut losses or roll down the position based on your risk tolerance.

Make good use of the Option Seller Zone to understand income strategies for selling options,and earn option premiums!

Investors can openFutubull >> Market >> Options >> Seller Zone >> Filter, to filter for option underlyings that suit their risk appetite and investment needs.

The screening criteria for the option cases provided in this article are:

Stock Screener: Market Cap > $10 billion; IV > 70%; IV Percentile > 40%; Total Option Volume > 60,000 contracts

Option Screener: DTE 0-45 days; OTM Probability > 70%; Annualized Return > 30%; Volume > 100 contracts

Underlying Selection Rule: Sorted by probability, prioritizing underlying assets with higher probabilities. Probability refers to the likelihood that the sold option contract will not be exercised, i.e., the Out-of-the-Money (OTM) probability. A higher probability indicates a lower chance of being assigned, and thus a greater likelihood of securely collecting the option premium.

All data and information in the Option Seller Zone are for reference only and do not constitute any investment advice.

This content is for reference only and should not be regarded or construed as an offer, solicitation, invitation, or recommendation to buy or sell any investment products, nor as a basis for investment decisions. It should not be interpreted as professional advice. Option contracts are derivative products and are not suitable for all investors. You should carefully assess whether you are suitable for participating in such trading based on your own investment experience, investment objectives, financial resources, and other relevant conditions.

The risk of loss in trading option contracts can be substantial. In certain circumstances, the losses you incur may exceed the initial margin deposited. Even if you have set contingency orders, such as "stop-loss" or "limit" orders, losses may not be avoided. Market conditions may prevent these orders from being executed. You may be required to deposit additional margin within a short period. If you fail to provide the required amount within the specified time, your open positions may be liquidated. However, you will still be liable for any deficit in your account resulting from this. Therefore, before trading, you should study and understand options, and carefully consider whether such trading is suitable for you based on your financial situation and investment objectives. If you trade options, you should be familiar with the procedures for exercising options and at expiration, as well as your rights and obligations upon exercise and at expiration. "Futubull" is a one-stop financial investment and trading platform, with securities services provided by Futu Securities International (Hong Kong) Limited.

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