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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 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 5.6% from MP; +1 VIX 17

Watch next session: $120 call; $118 put

Flow Summary

Net premium: -$213.1M bearish

P/C volume ratio: 1.21

P/C OI ratio: 0.98

MSTR sees bearish flow with heavy put volume, but positive GEX and high OI at key strikes suggest pinning. Net premium negative indicates selling pressure. The large $120 call volume (~10k) is notable but may be hedging. Spot below MP.

Notable Prints

MSTR 2026-07-02 $110.00 Call

Vol: 2,506

OI: 239

Vol/OI: 10.5x

IV: 78.2%

Notional: ~$1.4M

Intent: Bullish bet

Read-through: Speculative

MSTR 2026-06-26 $118.00 Put

Vol: 2,652

OI: 309

Vol/OI: 8.6x

IV: 79.0%

Notional: ~$2.7M

Intent: Bearish hedge

Read-through: Downside protection

MSTR 2026-06-26 $117.00 Put

Vol: 1,808

OI: 222

Vol/OI: 8.1x

IV: 83.1%

Notional: ~$1.8M

Intent: Bearish hedge

Read-through: Downside protection

MSTR 2026-06-26 $84.00 Put

Vol: 830

OI: 110

Vol/OI: 7.5x

IV: 118.8%

Notional: ~$12K

Intent: Lottery

Read-through: Speculative

MSTR 2026-06-26 $109.00 Call

Vol: 1,219

OI: 185

Vol/OI: 6.6x

IV: 81.7%

Notional: ~$536K

Intent: Bullish

Read-through: Near-term

Institutional Positioning

Call additions: $120 call (10k vol), $110, $109, $108, $115, $132

Put additions: $118 put (2.6k), $117 put (1.8k), $84 put, $45 put

GEX/DEX consistency: GEX positive, DEX positive, but net premium negative and put/call volume >1: bearish flow vs bullish dealer positioning

OI clusters: $120 call OI 2,050; $118 put OI 309; $117 put OI 222

Hedging evidence: Heavy put buying at $118/$117 weekly, far OTM $45 and $84 puts as tail hedges

Max pain context: Spot ~$117, 5.6% below MP; gamma flip at $90; pinning near MP ~$110-$120

Signal vs Noise

~Real signal: Heavy put volume at $118/$117 weekly (hedging/bearish bet) and large $120 call block (institutional bullish)

~Noise: Far OTM puts ($45, $84) with low vol/oi ratio, likely small retail or hedging filler

Key Conclusions

🐻Put heavy flow and net negative premium indicate bearish sentiment

📈Large $120 call buying and positive GEX/DEX suggest upside potential

⚠️Conflicting signals: hedging and pinning create mixed outlook

How to Use These Reports

This flow reflects the market close on June 22, 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.