thetaOwl
HomeOptionsMSTRReports

MSTR

Strategy IncClose $164.85EOD only
Max Pain
$170.00
Next expiry May 22, 2026
Expected Move
±$4.73
2.9% from close
Price Gap
+5.15
Distance to max pain
IV Rank
35
Middle-high premium
P/C OI
0.90
Slightly call-heavy
Consensus
5.5/10
Range bias
Published snapshot: May 21, 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
May 21, 2026 close
MSTR Theta Report
Analysis based on market close May 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Short premium positions
Invalidation: Spot closes outside $148-$180 range
Confidence:
5.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 3.0% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
IV 81% vs VIX 17, premium rich
Favorable?
Yes

Term structure: Upward slope; near-term puts elevated

📌Max pain cluster $170-$180, pinning favorable
⚡IV at 81% offers high premium income

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+8.5M)

OI concentrations: Call wall $180-$200; put floor $100; max pain $170-$172

Verdict: Low pin risk; OI spread across strikes

Premium Opportunities

#1
Put credit spread
Sell 2026-06-12 $155.00/$152.50 put spread
Sell put spread to collect premium with support at $148
Credit: $0.72-$0.88
Max loss: $1.62
BE: $154.12
Mgmt: Close at 50% max profit or if spot breaks below $148.45

Risk Alerts

!High volatility regime may cause sharp moves
!Spot 3% below max pain could trigger dealer hedging
How to Use These Reports
This theta reflects the market close on May 21, 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.