Strategy (MSTR) Options Chain

NASDAQ: MSTRTechnologyComputer Software: Prepackaged SoftwareUSD

154.34+2.87 (+1.89%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Nov 13, 2026
Days to expiration: 34
Share price: $154.34
Put/call ratio (OI): 1.81
Put/call ratio (volume): 0.47
ATM implied volatility: 63.8%
Expected move: ±$30.06
Open interest (C / P): 3.08K / 5.58K

MSTR options summary

The MSTR options chain for the November 13, 2026 expiration lists 41 call and 35 put contracts, with 34 days until expiration. Open interest stands at 3,084 calls and 5,584 puts, a put/call ratio of 1.81, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $155.00 strike is 63.8%, which implies the market expects a move of about ±$30.06 (19.5%) in Strategy stock by expiration.

The most open interest sits at the $220.00 call (289 contracts) and the $165.00 put (860 contracts).

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

MSTR options chain · November 13, 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
—	—	—	—	—	—	60.00	0.00	0.13	0.06	120.7%	10	10
3	6	142.8%	85.39	72.40	79.20	80.00	—	—	—	—	—	—
—	—	—	—	—	—	85.00	0.05	0.29	0.25	89.1%	8	24
—	—	—	—	—	—	90.00	0.18	0.30	0.28	85.6%	1	21
—	—	—	—	—	—	95.00	0.10	0.40	0.36	78.4%	2	82
—	—	—	—	—	—	100.00	0.35	0.52	0.44	78.2%	11	82
8	7	93.1%	48.10	48.90	52.85	105.00	0.45	0.67	0.50	74.1%	21	7
—	—	—	—	—	—	110.00	0.61	0.86	0.88	70.5%	13	382
6	5	68.5%	39.45	39.35	41.45	115.00	0.98	1.12	1.02	68.3%	7	41
11	1	66.3%	33.07	34.20	37.45	120.00	1.31	1.47	1.42	65.1%	17	160
—	—	—	—	—	—	125.00	1.64	2.15	2.00	62.7%	10	113
4	4	67.0%	27.19	26.60	28.80	130.00	2.73	2.97	2.75	62.8%	26	539
20	5	64.1%	20.10	23.05	24.15	135.00	3.75	4.10	3.70	61.7%	21	133
14	1	61.9%	22.50	19.10	20.55	140.00	5.20	5.65	5.60	61.5%	40	151
11	48	63.1%	19.60	18.70	20.05	141.00	3.30	7.15	5.70	58.1%	3	30
—	—	—	—	—	—	142.00	5.00	6.95	6.25	60.6%	3	117
7	45	63.6%	18.27	16.65	19.75	143.00	6.25	6.75	5.95	61.5%	1	131
—	—	—	—	—	—	144.00	6.05	7.15	8.70	59.8%	2	4
38	2	66.9%	18.00	15.90	19.25	145.00	7.05	7.45	6.76	61.3%	14	131
29	20	67.5%	18.21	15.50	18.70	146.00	—	—	—	—	—	—
5	3	67.5%	13.49	14.55	17.45	148.00	7.45	8.85	8.00	59.2%	23	20
6	5	64.3%	13.93	14.65	15.10	149.00	8.30	9.30	8.95	60.2%	27	14
96	39	65.5%	14.20	14.10	15.05	150.00	9.30	9.75	9.44	61.6%	269	281
35	14	63.0%	13.47	12.20	13.55	152.50	—	—	—	—	—	—
MSTR $154.34
92	42	65.8%	11.49	11.70	12.75	155.00	11.90	12.35	12.05	61.8%	216	847
—	—	—	—	—	—	157.50	12.70	14.60	13.45	62.4%	6	103
168	14	65.8%	10.02	9.65	10.60	160.00	14.80	16.10	14.86	64.1%	209	854
20	5	65.2%	9.50	8.85	9.30	162.50	15.50	17.65	19.10	61.7%	2	19
44	51	65.0%	8.15	7.95	8.40	165.00	16.65	19.40	18.04	60.7%	61	860
79	4	65.5%	7.65	7.20	7.70	167.50	18.95	21.50	14.00	63.3%	36	47
55	77	63.8%	6.85	5.50	7.35	170.00	19.90	23.25	21.50	60.9%	50	60
13	62	65.9%	6.00	5.90	6.35	172.50	—	—	—	—	—	—
40	17	67.5%	5.50	4.55	7.00	175.00	24.55	28.00	25.91	66.6%	52	151
34	16	64.1%	6.00	3.50	5.80	177.50	25.75	29.45	19.80	62.8%	2	11
269	196	66.9%	4.50	4.40	4.75	180.00	28.60	31.35	29.47	65.2%	50	58
280	34	67.8%	3.78	3.65	3.95	185.00	32.05	35.90	30.21	64.4%	57	53
127	191	68.6%	3.22	3.00	3.30	190.00	—	—	—	—	—	—
198	58	69.4%	2.70	2.49	2.73	195.00	40.90	45.20	34.39	67.5%	20	20
105	30	70.4%	2.42	2.06	2.31	200.00	45.50	49.50	53.74	67.0%	4	27
96	84	71.6%	1.86	1.76	1.97	205.00	—	—	—	—	—	—
235	36	72.3%	1.65	1.45	1.66	210.00	—	—	—	—	—	—
114	9	73.8%	1.37	1.27	1.45	215.00	—	—	—	—	—	—
289	1,032	74.5%	1.15	1.07	1.21	220.00	—	—	—	—	—	—
93	199	75.6%	1.01	0.88	1.09	225.00	—	—	—	—	—	—
77	30	77.1%	0.90	0.81	0.95	230.00	—	—	—	—	—	—
47	8	78.3%	0.87	0.70	0.84	235.00	—	—	—	—	—	—
94	84	78.1%	0.90	0.53	0.71	240.00	—	—	—	—	—	—
25	1	77.6%	0.51	0.32	0.65	245.00	—	—	—	—	—	—
114	108	79.0%	0.70	0.29	0.59	250.00	93.35	100.10	90.69	92.6%	1	1
38	4	78.5%	0.65	0.17	0.51	255.00	—	—	—	—	—	—
45	164	82.8%	0.43	0.30	0.49	260.00	—	—	—	—	—	—

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 November 13, 2026 expiration, the MSTR put/call ratio based on open interest is 1.81 (5,584 puts vs 3,084 calls), and 0.47 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 November 13, 2026 is about 63.8%, an annualized estimate of how much the market expects Strategy stock to move.

How many MSTR option expiration dates are there?

MSTR has 17 listed expiration dates, from Oct 16, 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.