Palantir Technologies (PLTR) isn't the only name joining the Nasdaq-100 Index (NDX)
Palantir Technologies (PLTR) isn't the only name joining the Nasdaq-100 Index (NDX) next week. MicroStrategy Inc (NASDAQ:MSTR) and Axon Enterprise Inc (NASDAQ:AXON) will also become a part of the tech-heavy benchmark on Monday, Dec. 23, so now is the perfect time to check in with these stocks.
MSTR is up 2.5% at $419.04 at last check, after the software company expanded its Bitcoin (BTC) holdings to $1.5 billion as the cryptocurrency hits never-before-seen highs. The stock is fresh off its sixth weekly win over the past seven, but has also taken a breather from its Nov. 21, record high of $543. For the year, the shares sport an impressive 567.7% lead.
Short-term options traders lean bearish, however, meaning MSTR could enjoy a shift in sentiment. This is per its Schaeffer's put/call open interest ratio (SOIR) that sits higher than 81% of readings from the past 12 months.
Despite its new post on the NDX, AXON was last seen down 4.2% at $618.12, reversing premarket gains. The defense stock still boasts a 139.3% year-to-date lead, and is now testing a familiar floor at the $600, which held steady in November before its Dec. 6, all-time high of $698.97.
Options traders are targeting AXON today, with 2,007 calls traded so far, which is four times the volume typically seen at this point. The most popular contract is the December 700 call.