Mixed options sentiment in MicroStrategy with shares up 0.57%

Mixed options sentiment in MicroStrategy (MSTR), with shares up $2.25, or 0.57%, near $397.93. Options volume roughly in line with average with 404k contracts traded and calls leading puts for a put/call ratio of 0.65, compared to a typical level near 0.61. Implied volatility (IV30) dropped 5.38 near 48.77,in the lowest 10% of observations over the past year, suggesting an expected daily move of $12.22. Put-call skew steepened, indicating increased demand for downside protection.