Strategy (MSTR) Options Chain

NASDAQ: MSTRTechnologyComputer Software: Prepackaged SoftwareUSD

151.47-1.90 (-1.24%)

At close: Oct 8, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Oct 9, 2026
Days to expiration: 1
Share price: $151.47
Put/call ratio (OI): 0.77
Put/call ratio (volume): 0.44
ATM implied volatility: 71.6%
Expected move: ±$5.68
Open interest (C / P): 216.81K / 167.04K

MSTR options summary

The MSTR options chain for the October 9, 2026 expiration lists 93 call and 83 put contracts, with 1 day until expiration. Open interest stands at 216,810 calls and 167,045 puts, a put/call ratio of 0.77, which is fairly balanced between calls and puts. At-the-money implied volatility near the $152.50 strike is 71.6%, which implies the market expects a move of about ±$5.68 (3.7%) in Strategy stock by expiration.

The most open interest sits at the $165.00 call (26.09K contracts) and the $95.00 put (36.27K contracts).

Summary generated from market data by MetaCap's automated system. Methodology

MSTR options chain · October 9, 2026

MSTR calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
29	2	1710.2%	134.30	119.05	122.25	30.00	0.00	0.01	0.02	950.0%	1	35
1	2	1634.0%	129.32	114.05	117.50	35.00	0.00	0.01	0.01	850.0%	1	564
—	—	—	—	—	—	40.00	0.00	0.01	0.01	775.0%	2	35
—	—	—	—	—	—	45.00	0.00	0.01	0.01	725.0%	14	25
6,640	194	943.8%	101.85	100.75	102.55	50.00	0.00	0.01	0.01	650.0%	10	199
8	3	1226.2%	99.60	94.05	97.85	55.00	0.00	0.01	0.03	600.0%	3	206
2	16	796.9%	104.32	89.00	94.30	60.00	0.00	0.01	0.01	550.0%	5	1,076
3	—	746.1%	65.37	84.05	89.30	65.00	0.00	0.01	0.01	500.0%	4	1,568
—	—	—	—	—	—	70.00	0.00	0.01	0.01	462.5%	9	2,746
5	5	618.0%	91.68	74.00	79.30	75.00	0.00	0.01	0.01	425.0%	65	2,628
10	10	487.5%	72.14	69.05	74.00	80.00	0.00	0.01	0.01	387.5%	43	2,130
1	2	527.3%	57.20	64.05	69.30	85.00	0.00	0.05	0.01	406.3%	1	17,376
13	1	768.0%	72.85	59.00	63.60	90.00	0.00	0.01	0.03	318.8%	2	4,949
17	1	435.9%	59.70	54.05	59.30	95.00	0.00	0.01	0.01	287.5%	502	36,273
817	33	400.8%	50.38	50.65	52.75	100.00	0.00	0.04	0.01	293.8%	45	7,429
142	63	417.4%	46.86	46.15	47.85	105.00	0.00	0.13	0.01	300.0%	16	2,279
32	2	321.1%	41.30	40.90	44.45	109.00	0.00	0.05	0.04	243.8%	7	167
133	13	353.5%	40.57	40.75	43.00	110.00	0.01	0.02	0.01	225.0%	327	3,111
130	16	253.1%	37.44	39.25	41.80	111.00	0.00	0.26	0.01	284.8%	4	138
51	29	285.2%	39.35	38.35	40.90	112.00	0.01	0.05	0.01	229.7%	24	681
29	10	277.7%	35.57	37.15	40.10	113.00	0.00	0.06	0.05	223.4%	4	166
51	14	255.5%	34.18	36.20	38.95	114.00	0.01	0.04	0.04	212.5%	55	97
65	6	300.0%	33.58	35.55	38.05	115.00	0.01	0.03	0.03	201.6%	59	8,963
60	9	324.0%	36.05	35.10	36.95	116.00	0.00	0.05	0.02	201.6%	3	141
59	7	234.4%	35.05	33.20	35.95	117.00	0.01	0.03	0.02	190.6%	84	515
45	25	242.2%	33.67	32.45	34.80	118.00	0.00	0.02	0.02	171.9%	63	1,981
29	29	255.9%	32.69	31.55	33.90	119.00	0.01	0.05	0.02	187.5%	31	138
87	59	290.2%	31.90	31.05	33.00	120.00	0.01	0.04	0.01	178.1%	310	3,515
24	74	221.1%	30.76	29.20	32.05	121.00	0.00	0.17	0.03	201.6%	6	121
143	67	241.4%	29.60	28.40	31.15	122.00	0.00	0.08	0.04	176.6%	19	216
97	61	287.5%	28.95	27.20	29.25	123.00	0.00	0.04	0.03	156.3%	46	478
55	52	205.5%	27.77	26.75	28.55	124.00	0.00	0.06	0.10	158.6%	2	161
131	52	211.3%	26.98	25.55	27.90	125.00	0.00	0.03	0.02	140.6%	203	5,967
258	47	230.1%	25.78	24.90	26.95	126.00	0.00	0.05	0.02	143.8%	71	347
33	50	193.0%	24.67	23.20	26.20	127.00	0.00	0.25	0.10	173.4%	1	339
45	55	199.8%	23.70	22.40	25.20	128.00	0.00	0.04	0.01	129.7%	399	1,281
53	57	231.4%	23.12	22.20	24.20	129.00	0.01	0.10	0.03	141.4%	55	282
237	75	214.7%	22.17	21.25	22.95	130.00	0.02	0.05	0.05	127.3%	56	2,177
88	66	164.7%	20.98	19.40	22.00	131.00	0.02	0.06	0.02	124.2%	3	437
112	71	164.1%	19.94	18.35	21.15	132.00	0.00	0.10	0.06	121.9%	18	633
122	77	135.2%	19.12	17.40	19.80	133.00	0.00	0.07	0.05	110.9%	219	329
105	75	136.7%	18.08	16.40	18.90	134.00	0.00	0.25	0.03	127.7%	7	424
238	87	136.3%	17.01	15.35	18.05	135.00	0.02	0.07	0.05	103.1%	1,151	1,653
80	15	137.5%	12.77	14.45	17.10	136.00	0.00	0.29	0.06	118.0%	227	700
155	17	122.3%	12.70	13.55	15.85	137.00	0.01	0.10	0.13	94.5%	149	1,374
81	12	122.7%	11.32	12.30	15.25	138.00	0.02	0.11	0.05	90.6%	875	2,025
120	33	125.8%	13.20	12.20	13.60	139.00	0.01	0.35	0.07	102.3%	1,027	1,440
1,287	112	105.7%	10.81	10.75	12.75	140.00	0.07	0.09	0.08	81.6%	9,924	4,879
243	41	98.2%	8.37	9.60	11.90	141.00	0.05	0.13	0.10	77.2%	1,227	1,050
166	102	94.7%	6.50	8.30	11.30	142.00	0.10	0.15	0.11	75.6%	1,935	732
75	116	100.0%	9.75	8.45	9.55	143.00	0.15	0.17	0.15	72.7%	1,504	424
2,802	247	69.8%	7.80	7.60	7.75	144.00	0.20	0.23	0.22	70.7%	4,672	759
742	664	71.3%	7.10	6.70	6.90	145.00	0.29	0.31	0.30	69.3%	12,411	2,749
123	445	71.6%	6.29	5.85	6.05	146.00	0.40	0.43	0.39	68.1%	2,259	931
121	667	70.8%	5.20	5.05	5.20	147.00	0.56	0.61	0.61	67.7%	5,138	1,207
174	2,804	69.1%	4.60	4.25	4.40	148.00	0.81	0.84	0.84	68.0%	9,266	1,177
239	4,425	69.2%	3.65	3.55	3.70	149.00	1.09	1.15	1.16	68.0%	10,624	955
1,452	15,284	71.0%	2.98	2.99	3.10	150.00	1.48	1.53	1.55	68.7%	15,930	5,400
MSTR $151.47
1,048	12,707	72.3%	1.82	1.79	1.84	152.50	2.77	2.84	2.81	71.0%	4,781	4,677
4,001	18,004	74.8%	1.03	1.00	1.06	155.00	4.00	4.55	4.38	63.9%	1,742	4,224
5,159	11,401	77.9%	0.58	0.56	0.58	157.50	6.45	6.65	6.55	75.5%	1,008	5,720
17,916	23,518	82.0%	0.31	0.31	0.33	160.00	8.55	9.10	8.50	80.3%	407	4,494
6,278	11,533	85.5%	0.18	0.17	0.18	162.50	10.95	11.40	11.27	82.2%	350	2,532
26,091	27,476	93.4%	0.11	0.11	0.14	165.00	12.35	14.20	13.29	138.6%	527	3,013
20,138	14,552	95.3%	0.05	0.05	0.08	167.50	16.00	16.85	16.00	135.3%	74	970
18,949	17,849	101.6%	0.04	0.04	0.05	170.00	17.55	19.75	18.35	118.4%	55	939
25,147	21,019	101.6%	0.02	0.01	0.03	172.50	20.85	21.90	21.15	159.4%	694	402
17,594	5,613	110.9%	0.02	0.01	0.03	175.00	22.25	24.70	23.60	234.2%	213	141
11,850	10,773	117.2%	0.02	0.01	0.02	177.50	24.15	27.95	26.05	120.3%	99	66
4,732	1,425	129.7%	0.02	0.01	0.03	180.00	27.15	30.10	28.80	159.0%	63	41
9,970	663	128.1%	0.01	0.00	0.02	182.50	29.30	32.85	34.80	153.1%	56	47
3,110	362	137.5%	0.01	0.00	0.02	185.00	31.25	36.05	29.70	185.9%	12	0
645	62	160.9%	0.03	0.00	0.05	187.50	33.05	38.80	28.90	397.4%	—	0
2,279	278	143.8%	0.03	0.00	0.01	190.00	35.75	41.05	36.00	400.3%	1	0
491	22	195.3%	0.01	0.00	0.11	192.50	—	—	—	—	—	—
1,331	65	159.4%	0.01	0.00	0.01	195.00	41.60	45.15	43.65	377.9%	4	1
343	5	168.8%	0.01	0.00	0.01	197.50	—	—	—	—	—	—
8,376	42	175.0%	0.01	0.00	0.01	200.00	47.05	49.75	35.50	376.2%	15	0
302	201	181.3%	0.01	0.00	0.01	202.50	47.95	53.80	46.76	484.4%	5	0
970	2	187.5%	0.02	0.00	0.01	205.00	53.35	56.05	50.65	396.3%	14	0
2,547	4	193.8%	0.01	0.00	0.01	207.50	—	—	—	—	—	—
1,574	27	200.0%	0.01	0.00	0.01	210.00	58.25	61.00	42.79	412.9%	3	0
21	14	206.3%	0.06	0.00	0.01	212.50	59.40	62.40	62.23	446.3%	2	0
1,528	667	212.5%	0.01	0.00	0.01	215.00	62.05	64.75	64.72	445.3%	2	0
426	3	225.0%	0.02	0.00	0.01	220.00	—	—	—	—	—	—
488	257	237.5%	0.01	0.00	0.01	225.00	—	—	—	—	—	—
1,311	2	250.0%	0.01	0.00	0.01	230.00	76.30	81.00	70.24	345.3%	14	0
291	4	262.5%	0.01	0.00	0.01	235.00	—	—	—	—	—	—
239	115	275.0%	0.01	0.00	0.01	240.00	—	—	—	—	—	—
325	17	287.5%	0.11	0.00	0.01	245.00	90.75	96.05	86.00	664.1%	3	0
150	38	300.0%	0.02	0.00	0.01	250.00	—	—	—	—	—	—
194	3	477.3%	0.01	0.00	0.66	255.00	—	—	—	—	—	—
255	1	466.0%	0.01	0.00	0.45	260.00	—	—	—	—	—	—
78	1	510.6%	0.01	0.00	0.70	265.00	—	—	—	—	—	—
505	1	337.5%	0.01	0.00	0.01	270.00	—	—	—	—	—	—
2,098	1	350.0%	0.01	0.00	0.01	275.00	—	—	—	—	—	—

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the MSTR put/call ratio?

For the October 9, 2026 expiration, the MSTR put/call ratio based on open interest is 0.77 (167,045 puts vs 216,810 calls), and 0.44 based on today's volume. A ratio above 1 means more puts than calls.

What is MSTR's implied volatility?

At-the-money implied volatility for MSTR options expiring October 9, 2026 is about 71.6%, an annualized estimate of how much the market expects Strategy stock to move.

How many MSTR option expiration dates are there?

MSTR has 18 listed expiration dates, from Oct 9, 2026 to Jan 19, 2029.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.