Are these green dicks on them trees?  

 I remember that transacting on L1 during 2021 boom was expensive and slow, and L2 wasn't there. So why bother?  

 If someone doesn't believe in Bitcoin then it would be a stupid trade. They spend $33k on a stock, and they recoup $12k by selling an option. If they are right and MSTR goes bust they may end up with $21k loss.

It's just an upside trade where you hedge downside risk by limiting upside profit potential