As we have explained, in trading it often pays to look and trade the "derivative" or beyond the obvious trade everybody is chasing. This approach often let's you have a "cushion" and an edge, especially when the crowd "discovers" the trade.

MSTR's CEO loaded up on Bitcoins earlier this summer, but the MSTR trade did not get interesting until the stock started lagging Bitcoin in early November. As we pointed out onNov 12, MSTR was a "bitcoin arbitrage" trade.

Fast forward to today and MSTR has now beaten Bitcoin by miles since mid November, and the two are both up some 80% from early October, with MSTR +42% since mid Nov, and BTC up only 20% since then.

MSTR is now moved to inverse arbitrage watch...