Crypto stocks not getting crushed

Crypto stocks aren’t getting crushed, contrary to what people were predicting on Twitter over the weekend.

MicroStrategy (MSTR) was predicted to crash today after Bitcoin fell sharply this weekend. But that’s not the case - it’s up 1% so far today.

The option flow is more bearish than the stock, which tells me that traders are expecting a further decline from here.

Here is put vs. call premium traded as of 10:44am eastern today:

The largest put order I see is for the $300 strike puts expiring 7/16. MSTR currently trades at $457.

The option flow is showing us that traders are expecting a further fade for stocks like MSTR and RIOT over the next few weeks.