Our HUT $25 June 2026 Calls are back in the money so we’ll cash them out here for a rather lackluster 20% profit in six months (I sound spoiled).
LQWD is looking like a maximum pessimism trade right now – especially if you look at the community on X – probably a lot of overhead resistance there, but they’re trading pretty close to mNAV (1.4) and we’ve never gone wrong buying near those levels.
MSTR is not far behind with an mNAV of 1.58 the only reason I’m not buying here is because I’m close to morbidly overweight on it already (higher than our 15% portfolio allocation).
We’re still waiting on the Fed rate decision before entering CRCL – I may regret that. I’ve also been looking at PYPL, believe it or not – actually looks pretty cheap.
If you wanted to front run me ahead of an official call, those would be the ones (both actually down a touch today, it’s tempting).
I’ll explain the PYPL rationale in the next letter, it’s basically about a “Fintech portfolio” I’ve been formulating around the stablecoin thesis.
That’s it for now.
