MSTYYieldMax MSTR Option Income Strategy ETF
MSTY Options Overview
IV is elevated with bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
MSTY Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 86.4% — elevated vs history
IV/HV 1.03x — IV ≤ HV
Sector percentile 92% — above sector median
Front/Back 0.83x — contango
Put/Call IV 1.16x — elevated
ATM IV 64.8% — normal range
Effective IV 138.1% (ATM 64.8% + spread 36.6% + bias) — expensive
Total drag 51.33% (spread 36.65% + slippage 14.68%) — high friction
Vega efficiency 0.59 (vega 2.163 / spread 36.65%) — spread drag
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: +46% (strong bullish) — Raw: +35%
|OI skew| 29.2% — call-heavy
Vol skew +34.2%, OI skew +29.2% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -24%, ATM: +74%, OTM: +24% — bullish (ITM/ATM divergent)
Sector P/C percentile 19% — very bullish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 1.0x avg — normal
Vol/OI 8.3% — normal turnover
1 day(s) elevated — may be one-day event
OI change +7.5% (5d) — building
Sector activity percentile 80% — very active vs sector
Large trade volume 19% — mixed
Aggressive execution 38% — patient
Conviction +46 (bullish) — moderate
Liquidity
Can I trade efficiently?
Evaluates
Spread 36.6% — wide
OI 14,529 — adequate
Volume 1,203/day — adequate
$1.83 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 94% — much wider than sector
Depth 276.6 contracts (bid:122.1 ask:154.5) — adequate
Avg slippage 14.68% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope -17.2% — contango
IV percentile 86% — seller opportunity
IV kink -3.0pts — no clear event
θ/ν ratio 273.82 — favors income trades
3 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +46% @ 73% consistency — STRONG directional (bullish)
Score 49 (ITM 20% + inst 19%) — moderate institutional
Directional Strategy Fit
For educational purposes only. Not investment advice.
The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.