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MSTRStrategy Inc Common Stock Class A

Options Analysis Report•FINANCE SERVICES
Market Cap $54.6B|NASDAQ
● 2026-08-28$137.40
BULLISH
Analysis: 2026-08-27 EOD data
1Y -59.4%YTD -12.6%7D +15.2%
840,181
30D
±21.1%
19%

MSTR Options Overview

IV is elevated with unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

6.3VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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MSTR Gamma Walls

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Value

Is IV priced right?

5.1
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 90.3% — elevated vs history

<1.05x

IV/HV 1.02x — IV ≤ HV

Sector Relative≤50%

Sector percentile 81% — above sector median

<1.1x

Front/Back 0.99x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 79.2% — normal range

<80%

Effective IV 87.7% (ATM 79.2% + spread 4.3% + bias) — expensive

<3.0%

Total drag 6.48% (spread 4.26% + slippage 2.22%) — high friction

≥5.0

Vega efficiency 30.96 (vega 13.190 / spread 4.26%) — efficient

Sentiment

Bullish or bearish?

6.7
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: +5%, Raw: +5%)
|net sentiment| ≥25%

Conviction-weighted: +5% (neutral) — Raw: +5%

≥15%

|OI skew| 9.9% — balanced

Same sign, |vol skew| ≥10%

Vol skew +37.3%, OI skew +9.9% — aligned

≥2/3 conditions

0-DTE 49%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +6%, ATM: +10%, OTM: +3% — neutral (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 49% — neutral vs sector

Activity

Unusual activity?

6.0
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks4/8 checks passed
≥1.5x

Volume 1.7x avg — elevated

≥15%

Vol/OI 30.0% — high turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change -11.7% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 96% — very active vs sector

≥30%

Large trade volume 36% — institutional presence

≥60%

Aggressive execution 36% — patient

≥30

Conviction +5 (bullish) — mixed

Liquidity

Can I trade efficiently?

6.7
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks5/8 checks passed
≤5.0%

Spread 4.3% — acceptable

≥10,000

OI 2,800,551 — deep

≥500

Volume 840,181/day — active

≤$0.50

$0.21 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 88% — much wider than sector

≥100 contracts

Depth 312.9 contracts (bid:157.0 ask:155.9) — adequate

<1.0%

Avg slippage 2.22% — poor

Timing

Is now a good time?

7.0
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -1.4% — flat/unclear

<30 or >70

IV percentile 90% — seller opportunity

≥10pts kink

IV kink 1.5pts — no clear event

<0.5 or >2.0

θ/ν ratio 57.45 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +5% @ 52% consistency — unclear

≥40 composite score

Score 66 (ITM 20% + inst 36%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls6.2
bullishIV fair, bullish flow
Long Puts5.0
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.9
bullishIV fair, bullish flow
Covered Call5.0
bearishIV fair, bullish flow

For educational purposes only. Not investment advice.