Bitcoin's Record-Breaking Rally Lifts Options Tied to Marathon Holdings, Coinbase, MicroStrategy

Bitcoin's ascent above $84,000 is boosting the appeal of crypto-related stocks as Wall Street expects improving regulatory environment under the incoming Trump administration.

Marathon Holdings attracted the heaviest options trading among the crypto related stocks, with almost 600,000 contracts changing hands across 15 expiration dates that stretch through Jan. 15, 2027, according to exchange data tracked by moomoo as of 1:18 p.m. in New York Monday. The seven most active contracts are call options giving the holders the right to buy the stock for prices ranging from $20 to $30 by the end of the week, as the stock rally pushed many of them in-the-money days before expiration.  

The most active Coinbase contract is the call option that gives the holders the right to buy the stock at $350 in four days. Coming in second is the $270 call that just last Friday, was still out-of-the-money. That changed in less than a trading day, with the contract price soaring more than 400% after a $55 jump in the share price that pushed the call option in-the-money.

The software company has seen its valuation quadruple this year, as investors favored its business strategy which includes buying Bitcoin. MicroStrategy disclosed Monday that it purchased $2.03 billion worth of the crypto currency Oct. 31 through yesterday.

Those 27,200 Bitcoins were bought using the money it raised from issuing and selling its shares, according to a press release Monday. The purchase was at an average price of $74,463, before the price climbed more than $10,000 from that level. That bolstered the company's unrealized gains. As of yesterday, the company and its holdings own 279,420 Bitcoins which were bought at an average price of about $42,692, according to its press release. The value of its holdings has almost doubled.

Share your thoughts on Bitcoin and crypto-related stocks like Marathon Holdings, Coinbase and MicroStrategy in the comments section. And don't forget to share your outlook on the crypto currency by voting below.