Home Options MSTRReports

MSTR

Strategy IncClose $109.46EOD only

Max Pain

$116.00

Next expiry Jun 26, 2026

Expected Move

±$8.25

7.5% from close

Price Gap

+6.54

Distance to max pain

IV Rank

Low premium

P/C OI

0.98

Balanced positioning

Consensus

5.0/10

Bearish tilt

Published snapshot: Jun 22, 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 22, 2026 close

MSTR Flow Report

Analysis based on market close June 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6.5 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 9.7% from MP; +0.5 VIX 19

Watch next session: $100 break; $110 resistance

Flow Summary

Net premium: -$256.3M bearish

P/C volume ratio: 0.92

P/C OI ratio: 0.98

MSTR sees heavy call buying into weakness, but net premium negative and negative gamma (-$32.1M) suggest bearish sentiment. High VIX (19.5) and spot below MP favor downside. Unusual call volume at weekly strikes may be short-term hedges.

Notable Prints

MSTR 2026-07-02 $117.00 Call

Vol: 6,200

OI: 370

Vol/OI: 16.8x

IV: 79.0%

Notional: ~$849K

Intent: Bullish speculation

Dual read: Or closing short

Read-through: Expects rally

MSTR 2026-06-26 $106.00 Call

Vol: 1,492

OI: 172

Vol/OI: 8.7x

IV: 79.9%

Notional: ~$372K

Intent: Bullish speculation

Dual read: Or rolling

Read-through: Confidence upside

MSTR 2026-06-26 $110.00 Call

Vol: 6,171

OI: 904

Vol/OI: 6.8x

IV: 79.2%

Notional: ~$796K

Intent: Bullish speculation

Dual read: Or covering

Read-through: Similar sentiment

MSTR 2026-07-10 $110.00 Call

Vol: 510

OI: 124

Vol/OI: 4.1x

IV: 77.1%

Notional: ~$235K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MSTR 2026-07-02 $110.00 Call

Vol: 7,702

OI: 2,337

Vol/OI: 3.3x

IV: 78.0%

Notional: ~$2.3M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy call flow on 6/26-7/2 expirations at 106-117 strikes, likely positioning for bounce or hedge rolling.

Put additions: Moderate put additions at 104 and 109, suggest hedging against further downside.

GEX/DEX consistency: Mixed: negative GEX (-$32.1M) vs positive DEX (+49.7M shares) indicates delta hedging offset by dealer short gamma.

OI clusters: Put OI concentrated 27.8% below spot at $75; call OI scattered 100-120 range.

Hedging evidence: Puts at 109 (2.4x vol/OI) and 104 (2.3x) show active hedging; collar-like structure emerging.

Max pain context: Spot ($104.6) below MP (est. ~$110); pin unlikely, gravitation toward MP may drive mean reversion.

Signal vs Noise

~Large call volumes are high vol/OI ratios (3-16x) - signal of aggressive buying, not noise.

~Put/call ratios near 1 suggest balanced hedging, not directional conviction.

~VIX 19 and tech selloff add macro noise; focus on MSTR-specific flow.

Key Conclusions

📈Institutions adding upside calls near spot, likely for hedge rolling or bounce positioning.

⚠️Negative GEX and high put activity warn of downside risk if spot breaks $100.

📊Flow mixed but consistent with hedging rather than speculative bet.

How to Use These Reports

This flow reflects the market close on June 23, 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.