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MSTR

Strategy IncClose $148.94EOD only

Max Pain

$132.00

Next expiry Apr 17, 2026

Expected Move

±$4.83

3.2% from close

Price Gap

-16.94

Distance to max pain

IV Rank

100

High premium

P/C OI

0.83

Slightly call-heavy

Consensus

5.0/10

Consensus signal

Published snapshot: Apr 16, 2026 close

End-of-day snapshot

This page reflects MSTR options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Apr 16, 2026 close

MSTR Flow Report

Analysis based on market close April 17, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 26.2% from MP; +1 VIX 17

Watch next session: Monitor 170–175 strikes (4/17 & 4/24) for follow-through; Track GEX changes and DEX share buys/sells; Watch IV and big put prints that concentrate OI

Flow Summary

Net premium: +$480.6M bullish

P/C volume ratio: 0.38

P/C OI ratio: 0.87

Flow is bullish/pinning: heavy call flow into 170–175 and large net positive GEX/DEX imply dealer delta buys and upside pinning; risk if spot retreats toward mid-price or put flow/IV surge reverses gamma.

Notable Prints

MSTR 2026-04-17 $170.00 Put

Vol: 22,524

OI: 514

Vol/OI: 43.8x

IV: 30.3%

Notional: ~$7.7M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MSTR 2026-04-17 $165.00 Put

Vol: 49,150

OI: 1,496

Vol/OI: 32.9x

IV: 15.6%

Notional: ~$393K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MSTR 2026-04-17 $175.00 Call

Vol: 73,777

OI: 2,684

Vol/OI: 27.5x

IV: 39.8%

Notional: ~$74K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MSTR 2026-04-24 $175.00 Call

Vol: 20,995

OI: 763

Vol/OI: 27.5x

IV: 81.9%

Notional: ~$9.9M

Intent: bullish/speculative

Dual read: outright buy vs part of spread

Read-through: concentration of buys at 175 strike

MSTR 2026-04-24 $170.00 Put

Vol: 4,361

OI: 164

Vol/OI: 26.6x

IV: 77.9%

Notional: ~$4.1M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Concentrated call buys clustered ~170–200 (Apr17/24); largest printed OI around Apr17 170/175 and pockets at Apr24 170/200.

Put additions: Notable put prints at 165–170 across short-dated expiries but OI is mixed—some transient prints, smaller sustained put base vs calls.

GEX/DEX consistency: GEX and DEX flow tilt toward upside, but magnitude uncertainty and mixed put activity mean consistency is probable not definitive.

OI clusters: Biggest OI concentrations: Apr17 170C ~6.3k, 175C ~2.7k; Apr24 170C ~2.0k, 200C ~1.5k; 165–170 puts ~1.3–1.5k (some low‑OI prints).

Hedging evidence: Call‑heavy structure plus short put prints is suggestive of collars/covered‑call behavior, though execution/IV noise leaves hedging intent ambiguous.

Max pain context: Spot sits above reported MP; flow and gamma suggest upward pressure but localized pinning risk exists and is not guaranteed.

Signal vs Noise

~Signal: concentrated Apr17 170 call OI and Apr24 170/200 call build imply institutional upside bias (probable).

~Signal: positive GEX/DEX metrics support dealer hedging toward higher strikes, with uncertainty on magnitude.

~Noise: many low‑OI/cheap prints and sweeps—some prints may be algorithmic, not durable position taking.

~Noise: elevated IV on Apr24 calls could reflect dispersion or supply effects rather than pure directional commitment.

Key Conclusions

📈Institutions appear biased toward upside (probable), but low‑OI prints and IV noise temper confidence.

⚠️Short‑dated put prints and spot>MP create localized pin risk; execution noise increases uncertainty.

Read the Flow analysis for MSTR for 2026-04-17. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.