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MSTR

Strategy IncClose $112.53EOD only

Max Pain

$126.00

Next expiry Jun 26, 2026

Expected Move

±$10.33

9.2% from close

Price Gap

+13.47

Distance to max pain

IV Rank

100

High premium

P/C OI

0.96

Balanced positioning

Consensus

6.5/10

Bullish tilt

Published snapshot: Jun 18, 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 18, 2026 close

MSTR Flow Report

Analysis based on market close June 18, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 8.5% from MP; +1 VIX 16

Watch next session: Monitor IV expansion; Check call OI at $110+

Flow Summary

Net premium: -$495.8M bearish

P/C volume ratio: 1.05

P/C OI ratio: 0.96

Aggressive call buying near expiry despite negative net premium and mixed flow. Negative GEX suggests dealer short gamma, amplifying upside. With QQQ strong and VIX elevated, bullish bias with near-term upside risk.

Notable Prints

MSTR 2026-06-26 $116.00 Call

Vol: 20,438

OI: 106

Vol/OI: 192.8x

IV: 73.8%

Notional: ~$7.6M

Intent: Bullish speculation on near-term rally

Dual read: May include short covering

Read-through: MSTR expected to move higher

MSTR 2026-06-26 $119.00 Call

Vol: 15,619

OI: 161

Vol/OI: 97.0x

IV: 72.1%

Notional: ~$4.2M

Intent: Higher-strike bullish play

Read-through: Confirms upside conviction

MSTR 2026-06-26 $121.00 Call

Vol: 11,061

OI: 118

Vol/OI: 93.7x

IV: 72.8%

Notional: ~$2.4M

Intent: Leveraged upside bet

Dual read: Dealer hedging may amplify moves

Read-through: High conviction with short expiry

MSTR 2026-06-18 $113.00 Call

Vol: 9,176

OI: 114

Vol/OI: 80.5x

IV: 15.6%

Notional: ~$55K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MSTR 2026-06-18 $111.00 Call

Vol: 6,223

OI: 109

Vol/OI: 57.1x

IV: 48.1%

Notional: ~$859K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy call buying 6/26 $116-122, 7/17 $110; vol/oi >30x.

Put additions: Minimal put activity; put OI concentrated at $100 flip.

GEX/DEX consistency: GEX -$64M, DEX +51.9M shares — mixed (short gamma, long delta).

OI clusters: Call OI cluster $110 (330); put OI cluster $100 (23,533 contracts).

Hedging evidence: Negative gamma suggests dealers hedged; DEX positive from delta hedging.

Max pain context: Spot below MP; gamma flip $100 implies potential pinning.

Signal vs Noise

~High vol/oi in 6/26 calls is signal of aggressive bullish positioning.

~Low OI but high volume in some strikes (e.g., 6/18 $113) is noise.

~Consistent call accumulation across expiries reinforces signal.

Key Conclusions

📈Aggressive call buying in 6/26 expiry indicates near-term bullish bias.

⚠️Negative GEX and spot below MP raise dealer hedging pressure risk.

🔮Put OI cluster at $100 marks key support level.

How to Use These Reports

This flow reflects the market close on June 18, 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.