MicroStrategy Sees Highest Demand for Downside Protection in Months

Demand for downside protection in MicroStrategy (MSTR) has increased significantly as its shares decline.

The one-year put-call skew rose to 3.6%, the highest since April 17.
This indicates strong demand for put options, which provide protection against price declines.
Implied volatility for put options is increasing faster than for call options, suggesting heightened bearish sentiment among traders.
MSTR holds 628,791 BTC, valued at approximately $74.7 billion, making it the largest publicly listed bitcoin holder.
The company's stock price has dropped over 14% to $292 in two weeks, closing below the 50-day simple moving average.