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MSTR

Strategy IncClose $120.44EOD only

Max Pain

$136.00

Next expiry Jun 12, 2026

Expected Move

±$12.75

10.6% from close

Price Gap

+15.56

Distance to max pain

IV Rank

High premium

P/C OI

0.96

Balanced positioning

Consensus

7.0/10

Bearish tilt

Published snapshot: Jun 5, 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

Jun 5, 2026 close

MSTR Flow Report

Analysis based on market close June 8, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.8% from MP; +0.5 VIX 19

Watch next session: $125 strike; $120 gamma flip; weekly call OI

Flow Summary

Net premium: -$126.3M bearish

P/C volume ratio: 0.69

P/C OI ratio: 1.00

Aggressive call buying dominates, led by a massive 80x OI volume in the Aug $125 call. Net premium negative from call purchase. Regime confirms bullish gamma pinning above $125.

Notable Prints

MSTR 2026-08-21 $125.00 Call

Vol: 51,847

OI: 644

Vol/OI: 80.5x

IV: 83.4%

Notional: ~$104.2M

Intent: Large bullish bet

Read-through: Long-term upside

MSTR 2026-06-12 $127.00 Call

Vol: 3,437

OI: 202

Vol/OI: 17.0x

IV: 82.6%

Notional: ~$1.8M

Intent: Bullish near-term

Read-through: Short-term rally

MSTR 2026-07-10 $175.00 Call

Vol: 711

OI: 130

Vol/OI: 5.5x

IV: 78.5%

Notional: ~$103K

Intent: Speculative upside

Read-through: High vol bet

MSTR 2026-06-12 $130.00 Call

Vol: 12,748

OI: 3,459

Vol/OI: 3.7x

IV: 82.9%

Notional: ~$4.7M

Intent: Strong bullish

Read-through: Conviction in rise

MSTR 2026-06-12 $126.00 Put

Vol: 1,150

OI: 328

Vol/OI: 3.5x

IV: 80.8%

Notional: ~$477K

Intent: Bearish or hedge

Read-through: Downside protection

Institutional Positioning

Call additions: Large $125C (Aug), $127C, $130C (wkly), $55C (lottery). Bullish bias.

Put additions: Modest $126P, $123P, likely hedging collars.

GEX/DEX consistency: Yes, GEX +$34.7M and DEX +52.9M align with call buying.

OI clusters: New $125C OI 644, old $75P OI 1924, $130C OI 3459.

Hedging evidence: $126P and $123P near spot for downside protection.

Max pain context: Spot above MP; gamma flips near $100, pinning $125-$130.

Signal vs Noise

~Large $125C vol (51,847) is real signal.

~High IV $55C (vol 283) is noise.

~$126P and $123P activity is signal.

~$75P with high OI but low vol is stale.

Key Conclusions

🐂Institutions buying $125C (Aug) aggressively, bullish on BTC.

⚠️Put hedging at $126/$123 near spot, protective collars.

📊GEX +$34.7M, DEX +52.9M; dealers long gamma/delta.

How to Use These Reports

This flow reflects the market close on June 8, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.