In today’s Q&A on the earnings call, @saylor discussed why he wouldn’t sell covered calls or CSPs on BTC. His answer was solid—for covered calls. I understand the rationale: let others benefit from the volatility rather than have a company like Strategy help suppress it. That logic doesn’t apply as cleanly to CSPs, but it sounds like this simply isn’t a market he wants to participate in, and I get it. Liquidity for selling options is significantly thinner.