MicroStrategy (MSTR) has become a popular option for traders looking to gain exposure to Bitcoin through the stock market. As the company continues to acquire Bitcoin as part of its treasury strategy, many investors are turning to options trading to capitalize on MSTR’s price movements.
Finding the right broker is crucial for successfully trading these options.
Based on current market data, tastytrade, Interactive Brokers, and Fidelity rank among the top brokers for trading MicroStrategy options.
These platforms offer competitive fees, reliable execution, and the necessary tools to help you make informed trading decisions.
When choosing a broker, you should consider factors like commission structures, platform usability, and whether they allow full access to MSTR options trading, as some platforms may have restrictions.
Best Brokers for Trading MicroStrategy Options
1) Interactive Brokers
Interactive Brokers (IBKR) fully supports MicroStrategy (MSTR) options trading. The platform is available to traders globally and offers direct market access to multiple exchanges.
IBKR charges low fees for options trading. You’ll pay between $0.15 to $0.65 per contract, with no additional platform fees. The exact rate depends on your trading volume and account type.
The broker provides powerful trading platforms like IBKR Trader Workstation (TWS) and IBKR Mobile.
These platforms include advanced options analysis tools, real-time data, and detailed charting capabilities.
Margin requirements for options trading follow standard industry rules, but IBKR is known for competitive margin rates. This helps if you want to use leverage when trading MSTR options.
Order execution at Interactive Brokers is fast and reliable. You can use various order types including limit, stop, and complex multi-leg options strategies when trading MSTR options.
IBKR is regulated by major financial authorities including the SEC and FINRA. Your account is protected by SIPC insurance up to $500,000, with additional private insurance coverage.
The platform offers a free paper trading account where you can practice MSTR options strategies without risking real money.
This is helpful for testing new approaches or learning options trading.
Interactive Brokers stands out for its professional-grade tools and competitive pricing. Their robust platform handles complex options strategies well, making it suitable for both beginning and advanced MSTR options traders.
2) eToro
eToro offers options trading with a simplified platform designed for both beginners and experienced traders. You can trade MicroStrategy (MSTR) options through their user-friendly mobile app and desktop platform.
When it comes to fees, eToro uses a commission-free model for stock trading, but options trades do incur costs. They charge per contract fees that vary based on the option’s price and volume. Their fee structure is competitive compared to traditional brokers.
The eToro platform provides real-time market data and basic charting tools for analyzing MSTR options.
Their interface simplifies the options trading process, making it accessible even if you’re new to options.
Margin requirements on eToro follow standard industry practices for options trading. You’ll need to maintain sufficient funds in your account to cover potential losses, with specific requirements based on the options strategy you choose.
For order execution, eToro offers standard order types for options trading. While not as extensive as some specialized options brokers, their system provides reliable execution for most MSTR options trades.
eToro operates under regulatory oversight in multiple jurisdictions and implements security measures to protect your funds and personal information. Your investments have protection through various insurance schemes depending on your location.
The platform includes educational resources to help you understand options trading concepts.
You can also benefit from their social trading feature, which allows you to see what experienced traders are doing with MSTR options.
eToro’s mobile app puts options trading literally in the palm of your hand, making it convenient to manage your MSTR options positions while on the go.
3) Webull
Webull stands out as a cost-effective broker for trading MicroStrategy options. Unlike many competitors, Webull charges $0.00 per contract for stock and ETF options trading, making it an affordable choice for traders looking to trade MSTR options.
The platform provides real-time market quotes for MicroStrategy (NASDAQ: MSTR) and offers comprehensive stock information. You can access financial reports and professional analyst ratings to inform your options trading decisions.
Webull’s trading platform includes advanced charting tools and options analytics that help you visualize potential strategies.
The intuitive interface works well for both beginners and experienced traders who want to track MSTR options.
For margin trading, Webull offers competitive rates, though specific requirements for options trading may vary based on your account status and the complexity of options strategies you wish to employ.
Order execution on Webull is generally quick, with multiple order types available for options trading. The platform supports basic and advanced options strategies, giving you flexibility when trading MicroStrategy options.
Webull is regulated by major U.S. financial authorities including FINRA and the SEC. Your securities are protected up to $500,000 through SIPC insurance, providing peace of mind when trading.
A standout feature is Webull’s paper trading function, which lets you practice options strategies without risking real money.
This is particularly valuable if you’re new to trading MicroStrategy options or testing new strategies.
The mobile app offers most of the same functionality as the desktop version, allowing you to trade MSTR options on the go. You can set up alerts for price movements to stay informed about potential trading opportunities.
4) Moomoo
Moomoo offers comprehensive access to MicroStrategy (MSTR) options trading with real-time stock options chain data and pricing information. This makes it easier for you to track and analyze potential MSTR options trades.
Moomoo stands out with its $0 commission fee structure for options trades. You only pay low per-contract fees, making it cost-effective for both occasional and frequent options traders. This pricing model helps maximize your potential returns when trading MSTR options.
The platform provides advanced charting tools and real-time data specifically designed for options trading.
You can easily monitor MSTR options chains, analyze pricing trends, and make informed decisions based on current market conditions.
Moomoo’s trading platform includes flexible options trading strategy tools to help you implement various approaches.
Whether you prefer simple calls and puts or more complex strategies, the platform supports your MSTR options trading needs.
For newer traders, Moomoo offers educational resources about options trading. You can learn about different strategies before risking real money on MSTR options.
The platform also includes paper trading capabilities, allowing you to practice MSTR options strategies without financial risk.
This feature helps you test approaches and gain confidence before committing actual funds.
Moomoo is regulated by major financial authorities, providing you with security and peace of mind for your trading activities. Your funds are protected by standard securities insurance.
The mobile app gives you the flexibility to trade MSTR options on the go. You can monitor your positions, place new trades, and receive alerts about market movements from anywhere.
5) Fidelity
Fidelity is a top-rated broker that allows trading of MicroStrategy (MSTR) options. Their platform consistently ranks among the best online brokers according to multiple surveys, marking their 13th year among the best online brokers.
Fidelity charges $0 commissions for online stock and ETF trades. For options trading, they charge $0.65 per contract with no base fee. Advanced traders who execute multiple strategies may find these fees competitive compared to other major brokers.
Their trading platform offers comprehensive options chains and quotes for both single and multi-leg option strategies.
You can access essential research tools to analyze potential MSTR options trades, including real-time data and advanced charting capabilities.
Fidelity provides standard margin requirements for options trading, with specific requirements for MSTR options based on market volatility. Their margin rates are generally competitive compared to other major brokers.
Order execution quality at Fidelity is excellent, with multiple order types available for options trading.
Their smart order routing helps ensure you get good fills on your MSTR options trades.
Fidelity is regulated by FINRA and the SEC, providing strong investor protections. Your accounts are covered by SIPC insurance up to $500,000, with additional private insurance coverage beyond those limits.
As a Fidelity customer, you gain access to educational resources that can help improve your options trading knowledge.
Their research tools include options probability calculators and strategy builders to help plan your MSTR options trades.
Fidelity’s mobile app lets you trade MSTR options on the go, with most of the functionality of their desktop platform available at your fingertips.
6) tastytrade
Tastytrade has earned recognition as one of the best brokers for trading MicroStrategy options. They offer full access to MSTR options trading with various expiration dates and strike prices.
The fee structure at tastytrade is quite competitive. They charge $1 per options contract with a cap of $10 per leg, making it cost-effective for larger trades. There are no exercise or assignment fees, which saves you money when options are executed.
Their trading platform is designed specifically with options traders in mind.
You’ll find robust analytics tools that help identify potential trades based on volatility and other metrics. The platform includes probability calculators and risk visualization tools that make complex options strategies easier to understand.
Margin requirements at tastytrade follow industry standards, but they offer portfolio margin for qualified accounts. This can provide more efficient use of your capital when trading MSTR options.
Order execution at tastytrade is reliable and fast. They offer various order types including limit, market, and stop orders for options trades. Their smart routing technology helps ensure you get competitive prices when trading less liquid options.
Tastytrade is regulated by the SEC and FINRA, providing you with important protections. Your account is covered by SIPC insurance up to $500,000, including $250,000 for cash claims.
A standout feature is their extensive educational content.
You get access to daily live shows, tutorials, and articles specifically about options trading strategies. Their “tastytrade network” offers continuous market commentary and trade ideas that can help improve your MSTR options trading skills.
The platform also offers a free paper trading account where you can practice strategies without risking real money.
This is particularly valuable if you’re new to trading MicroStrategy options or testing advanced strategies.
7) Public
Public is a newer broker that has gained popularity for its social trading features. As of March 2025, Public offers options trading capabilities, including for MicroStrategy (MSTR) stock.
Public charges $0 per trade with no base fee and $0.65 per options contract. This pricing structure is competitive with other major brokers in the industry.
The trading platform features a clean, intuitive interface that works well for both beginners and experienced traders.
You’ll find basic charting tools and options chains, though the analytics aren’t as robust as some specialized options platforms.
Margin requirements for MSTR options follow standard regulations, with Public offering up to 2:1 leverage for qualified accounts.
This is lower than some competitors, which could be limiting for aggressive traders.
Public’s order execution is reliable for most trades, offering market, limit, and stop orders. However, during high volatility in MSTR stock, you might experience slight delays compared to professional trading platforms.
The broker is regulated by FINRA and the SEC, providing standard SIPC protection covering up to $500,000 in securities. Public also adds an extra layer of security with two-factor authentication for all accounts.
A standout feature is Public’s social community where you can see what others are trading and discuss MSTR options strategies with fellow investors.
The platform also offers helpful educational content specifically for options trading beginners.
Public’s mobile app makes trading MSTR options convenient on the go, though some advanced features are better accessed on the desktop version. You can set price alerts for MicroStrategy stock to time your options trades more effectively.
8) Charles Schwab
Charles Schwab offers comprehensive options trading capabilities that include MicroStrategy (MSTR) options.
Their platform is designed with options traders in mind, providing robust tools for strategy development.
Schwab charges $0.65 per options contract with no base commission fee.
This straightforward pricing makes it easier to calculate your trading costs ahead of time.
Active traders may qualify for reduced rates based on trading volume.
The broker’s trading platform stands out with its intuitive “Analyze Risk” profile tool, specifically designed for options trading.
You can access real-time decision support from options specialists, which is valuable when trading volatile assets like MicroStrategy.
Schwab’s platform provides advanced charting capabilities and comprehensive options analytics.
These tools help you visualize potential outcomes before executing trades, an important feature for options strategies.
Margin requirements at Schwab follow standard industry regulations, with specific requirements that may vary based on the volatility of MicroStrategy stock.
You’ll need to maintain sufficient margin to cover potential losses.
Order execution at Schwab is reliable with multiple order types available for options trading.
Their system allows for complex options strategies with efficient execution.
Schwab is regulated by the SEC and FINRA, providing strong investor protections.
Your securities are protected up to $500,000 through SIPC coverage, with additional insurance beyond that.
The broker offers extensive educational resources for options traders, from beginner concepts to advanced strategies.
You can access webinars, articles, and video tutorials to improve your trading skills.
Schwab recently expanded into cryptocurrency-related investments, which may be relevant if you’re interested in MicroStrategy due to its bitcoin holdings.
You can access spot bitcoin funds and other crypto-linked products alongside your options trading.
9) Robinhood
Robinhood offers commission-free options trading on MicroStrategy (MSTR) stock.
This broker stands out for eliminating per-contract fees that many other platforms charge, making it attractive for traders who want to minimize costs.
The platform features a clean, user-friendly interface that many traders find intuitive.
You can view real-time MSTR price charts directly in the app before making trading decisions.
The simplified options chain display works well for beginners but may lack some advanced features.
Robinhood’s margin requirements for options trading follow standard industry practices.
You’ll need to be approved for options trading and maintain sufficient account balance to cover potential losses.
Order execution on Robinhood has improved over time, though some traders report not always getting the best fills when opening and closing trades.
The platform supports basic order types for options including limit orders.
From a security standpoint, Robinhood is regulated by FINRA and the SEC.
Your securities are protected up to $500,000 through SIPC insurance. The app includes security features like two-factor authentication to protect your account.
Robinhood’s options trading tools are more basic compared to specialized brokers.
You won’t find sophisticated options analytics or strategy builders, but the platform offers enough functionality for straightforward options trades.
The broker provides some educational resources about options trading, though less comprehensive than what competitors offer.
This makes Robinhood better suited for traders who already understand options basics or plan to learn elsewhere.
Overall, Robinhood works well if you prioritize commission-free trading and a simple interface over advanced features.
It’s particularly suitable for beginners or those trading MSTR options occasionally rather than professional traders needing sophisticated tools.
10) Vanguard
Vanguard offers options trading capabilities, including trading MSTR options as confirmed by multiple sources.
While known primarily for its low-cost index funds, Vanguard’s brokerage services extend to more active trading strategies including options.
When it comes to fees, Vanguard charges $1 per options contract.
This pricing is straightforward but may not be the most competitive for active options traders who make frequent trades.
There are no additional platform fees for using their trading tools.
Vanguard’s trading platform is functional but basic compared to platforms specifically designed for active traders.
The interface offers standard options chains and basic order types, but lacks some of the advanced options analytics and screening tools found on specialized platforms.
For margin trading, Vanguard maintains conservative requirements that align with their long-term investment philosophy.
This may mean higher margin requirements when trading volatile stocks like MSTR compared to some competitors.
Order execution through Vanguard is reliable but not necessarily optimized for rapid trading or complex options strategies.
The platform supports standard order types but may lack some of the specialized order routing that active traders prefer.
Vanguard maintains strong regulatory compliance as a member of SIPC, providing account protection up to $500,000.
Their reputation for security and stability is excellent, making them a trusted broker for long-term investors.
It’s worth noting that while Vanguard allows MSTR options trading, they do not permit trading of Bitcoin ETFs according to the search results.
This reflects their more conservative approach to newer investment vehicles.
Vanguard works best for investors who occasionally trade options rather than those focusing on options as their primary strategy.
Their educational resources are solid but geared more toward long-term investing than active options trading.
Understanding MicroStrategy Options
MicroStrategy (MSTR) options give you the right to buy or sell MSTR shares at a specific price before a set date.
These options can be valuable tools in your investment strategy, especially given MSTR’s connection to Bitcoin holdings.
There are two main types of options available for MicroStrategy:
Call Options: These give you the right to buy MSTR shares at a specified price (strike price). Traders often use calls when they expect the stock to rise.
Put Options: These give you the right to sell MSTR shares at the strike price. Puts can be useful when you expect the stock price to fall or as a hedge.
When trading MSTR options, you’ll need to understand key metrics called “Greeks”:
- Delta: Measures how much option price changes when stock price moves
- Gamma: Shows delta’s sensitivity to stock price movement
- Theta: Reflects time decay of option value
- Vega: Indicates sensitivity to volatility changes
- Rho: Measures sensitivity to interest rate changes
MSTR options have high liquidity with an average open interest of about 2,361 contracts and trading volumes around 150,336.
This high liquidity makes it easier to enter and exit positions.
Trading MSTR options requires a suitable broker. Top choices include:
- Interactive Brokers
- tastytrade
- Fidelity
These brokers offer competitive fees and reliable platforms for options trading.
Key Features to Consider
When selecting a broker for MicroStrategy (MSTR) options trading, you should focus on specific features that directly impact your trading experience and potential profits.
The right broker can make a significant difference in your trading success.
Trading Platform Capabilities
Look for platforms with real-time data and advanced charting tools specific to options trading.
The best brokers offer intuitive interfaces that display options chains clearly, showing strike prices, expiration dates, and premium costs at a glance.
Mobile access is crucial for trading on the go, especially with volatile stocks like MSTR.
Check if the platform provides options-specific alerts and notifications for price movements.
Risk analysis tools are particularly important.
Good platforms will calculate potential profit/loss scenarios and show key metrics like implied volatility and Greeks (delta, gamma, theta).
Many traders prefer platforms with paper trading features to practice options strategies before using real money.
This is especially valuable when trading a volatile stock like MSTR.
Fee Structures and Commissions
Options trading fees vary significantly between brokers. Most charge a base fee plus a per-contract fee, typically ranging from $0.50 to $1.50 per contract.
Some brokers like tastytrade offer competitive pricing specifically for options traders.
Watch for hidden costs beyond the obvious commission fees. Exercise and assignment fees can add up quickly if you frequently let options expire in-the-money.
Contract minimums may apply with some brokers, requiring you to purchase multiple contracts.
This can be problematic when trading expensive options like MSTR.
Consider account minimums too.
Some brokers require substantial deposits to access their best options trading features.
Premium data packages often incur additional monthly fees but provide crucial information for informed options trading.
Margin requirements vary between brokers and affect how much buying power you have for MSTR options trades.
Frequently Asked Questions
Traders often have specific questions about selecting the right broker for MicroStrategy options trading.
These questions focus on important factors like platform availability, fees, and features that matter most.
How do I choose a broker for trading MicroStrategy stock options?
When choosing a broker for trading MicroStrategy (MSTR) options, focus on platforms that actually offer MSTR options trading.
According to search results, Interactive Brokers, Fidelity, and Vanguard all allow MSTR trading, though Vanguard doesn’t support Bitcoin ETFs.
Consider your trading experience level.
If you’re new to options trading, platforms like eToro or Webull offer educational resources and user-friendly interfaces that can help you get started.
Fee structures matter significantly.
Look for brokers with competitive options contract fees and no hidden charges.
Interactive Brokers is known for low trading costs, while Moomoo has emerged as a top pick for similar ETFs due to its low fee structure.
Trading tools and research capabilities should match your strategy.
Fidelity provides robust research tools, while Interactive Brokers offers advanced options analysis capabilities that experienced traders value.
Account minimums and option approval levels vary between brokers. Some platforms have lower barriers to entry than others.
For instance, Webull has no minimum deposit requirement to open an account.
Mobile access might be important if you trade on the go.
Evaluate the broker’s mobile app functionality, especially for options trading which can require quick decisions.
