It is all the rage these days to sell covered call on mstr. Despite how Saylor doesn't hold his keys and sells stock so he can buy hard money, the options market on MSTR can serve as a useful vehicle to get extra dollars to buy btc.

Because many funds still think saylor's strategy is dumb, they are betting against him in the options market.

These funds will buy the ability to put the stock to someone at a future price (betting it is going down and they get get it even lower than they put it to someone). They are buying puts.

You can sell the ability to have the stock put to you at a future price. You are selling puts.

To sell a put you either have to have a margin account or you have to have the cash siting in the account until the time of option expiry.

Right now, buyers, will pay you between $7 and $20 a share to buy MSTR on Dec 17 2027 at a $50 stock price.

If you think that bitcoin will be much higher in 2027 then this is "free money". You then take the proceeds from selling these put options and reinvest the premiums you received in bitcoin (decreasing the chances that MSTR ever gets to $50 a share and on Dec 2027 your puts will expire).