JPMorgan Bought More MicroStrategy Before MSCI Exit, Plus Insurance Against a Drop

JPMorgan increased its MicroStrategy (MSTR) position by 36% ahead of MSCI's index removal, while also raising its put options by 60% to hedge against a decline. The dual move signals a bank positioning for upside exposure but insuring against downside risk around the index exit. Traders watching MSTR as a bitcoin proxy may read the hedged stance as cautious rather than outright bullish.