Executive Chairman Michael Saylor highlighted the significant options open interest in MicroStrategy, noting that approximately 446,000 contracts were set to expire on January 2, 2026. This interest has climbed to 86% of the company’s market capitalization, a ratio that significantly exceeds mega-cap peers, including Tesla, Meta, and Nvidia. This high derivative exposure points to substantial speculative interest and could increase stock volatility.
Separately, MicroStrategy announced it increased the dividend for its Series A Perpetual Stretch Preferred Stock to 11% for January. This adjustment utilizes a variable-rate mechanism designed to support the preferred stock's price. The mechanism simultaneously continues to fund the company’s primary Bitcoin accumulation strategy.
This corporate activity follows a challenging period for the stock. MicroStrategy recorded a nearly 50% decline throughout 2025 and registered its first consecutive six-month price decline since adopting its core Bitcoin strategy.