Options trading for Semler Scientific shares has officially launched for Bitcoin holders.

Shares of Semler Scientific (SMLR), a medical device company that adopted a bitcoin treasury strategy earlier this year, have now been approved for options trading. This comes after a six-month period of growth driven by the company’s pivot to bitcoin (BTC) and its capital-raising initiatives.

On December 5, Semler filed for approval to allow options trading, believing it met the eligibility criteria. While no official announcement has been made yet, brokerage accounts showed on Tuesday morning that options were available for trading.

Options trading gives investors the right, but not the obligation, to buy or sell a stock at a predetermined price before a specific date. The introduction of options on a stock provides investors with more flexibility to hedge their positions and speculate on the stock’s future price movements.

For options trading to be approved, stocks must meet requirements such as a minimum share price of around $3–$5, a market cap of at least $75 million, and sufficient daily trading volume of approximately 500,000 to 1 million shares. The company must also have enough publicly available shares and shareholders.

Semler’s stock price has increased significantly since the company first revealed its bitcoin purchases on May 28, rising from its initial value to more than $74 per share as of Monday’s close. It now boasts a market capitalization of over $600 million. The stock saw a 5% rise in premarket trading on Tuesday, reaching $78.20.

Semler has also recently filed a second prospectus supplement, which raised an additional $50 million through its at-the-market (ATM) program, increasing the total offering to $150 million. The company has already raised $100 million from this program.

As of now, Semler holds 2,084 bitcoins, which it acquired for $168.6 million, with an average purchase price of about $81,000 per coin. At bitcoin’s current price of $106,500, the company’s bitcoin holdings are now valued at approximately $222 million.

Semler is positioning itself to emulate the success of MicroStrategy (MSTR), which raised funds for its bitcoin acquisitions by issuing convertible notes. This approach avoids immediate dilution of shares, making it an attractive option for raising capital. The growing options market for Semler could further help to attract investors and make the company’s convertible offerings more appealing.

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