Strategy fails to list options on its flagship preferred, STRK
Michael Saylor’s flagship preferred share, Strike (STRK), was conspicuously absent from his company’s listing announcement this morning. The company instead announced that investors may now purchase calls and puts on Strife (STRF), Stretch (STRC), and Stride (STRD), as well as the earlier options chain for Strategy common stock (MSTR). No options chain exists for STRK — despite its Series A seniority and market capitalization exceeding STRD and STRF, respectively. Strike is unique not only because it was Saylor’s first attempt at selling preferred shares with perpetual dividends, but because the most bullish type of preferred share that the company has ever offered. No call options on Strategy’s most bullish preferred shares STRK pays a perpetual annualized dividend rate of 8% USD, plus it will convert into 0.1 MSTR shares if MSTR rallies to $1,000 per share. For context, the all-time high of MSTR is $543 and it’s currently trading below $330. T...