Strategy Inc (MSTR)
Overview · Option chain · Volatility · Expected-move history · Earnings
Cboe delayed options data · as of Sep 02, 21:52 UTC · Figures derived from the full chain (3,384 contracts, 18 expirations) · IV own-history percentile appears after 60 recorded days (3 so far)
Expected move — Sep 18, 2026 (16 days)
Methodology →Read from option prices: the at-the-money straddle costs this much, so the market is pricing a move of about that size in either direction by this date. It is an estimate of movement, not a prediction of direction.
Options are pricing a move of about ±11.1% (range 109.66–136.91) by Sep 18, 2026. ATM straddle: 13.62 @ strike 123 · ATM IV: 66.2%.
Probability distribution
Model & assumptions →The curve shows where a lognormal model, fed with current implied volatility, puts the range of outcomes at this expiration. Shaded: the expected-move band.
| Level | vs price | P(above)Model-estimated chance the stock finishes above a level at expiration, derived from current IV under a lognormal model with stated assumptions — an estimate, not a prediction. | P(below) |
|---|---|---|---|
| 110.95 | -10% | 75.5% | 24.5% |
| 117.12 | -5% | 61.8% | 38.2% |
| 123.28 | +0% | 47.2% | 52.8% |
| 129.44 | +5% | 33.7% | 66.3% |
| 135.61 | +10% | 22.4% | 77.6% |
Model-estimated probabilities of finishing above/below each level at expiration — estimates under stated assumptions, not predictions.
Probability explorer
Drag the slider to any level and see the model-estimated chance the stock finishes above or below it at the selected expiration.
Horizon: Sep 18, 2026 · lognormal model, zero drift — an estimate, not a prediction. Assumptions
Expirations
Open the chain →| Expires | DTEDays to expiration, in calendar days. | Implied move | ATM IV | Open int. |
|---|---|---|---|---|
| Sep 04, 2026 | 2 | ±4.6% | 76.8% | 438.3K |
| Sep 11, 2026 | 9 | ±8.1% | 64.7% | 113.3K |
| Sep 18, 2026 | 16 | ±11.1% | 66.2% | 454.6K |
| Sep 25, 2026 | 23 | ±13.4% | 67.1% | 39.7K |
| Oct 02, 2026 | 30 | ±15.4% | 67.5% | 27.5K |
| Oct 09, 2026 | 37 | ±17.3% | 68.2% | 6,012 |
| Oct 16, 2026 | 44 | ±19.2% | 69.0% | 226.7K |
| Nov 20, 2026 | 79 | ±27.2% | 73.2% | 89.3K |
| Dec 18, 2026 | 107 | ±31.6% | 73.4% | 266.0K |
| Jan 15, 2027 | 135 | ±35.5% | 73.5% | 388.6K |
| Mar 19, 2027 | 198 | ±43.6% | 75.0% | 66.1K |
Open interest by strike — Sep 18
Where option positions are concentrated. Teal bars are calls, red bars are puts; the dashed line is the current price.
Largest open-interest concentrations (all expirations ≤ 60 days): 100 C · 44.5K95 C · 44.1K70 P · 43.2K80 P · 40.4K140 C · 40.2K
IV term structure
Volatility page →At-the-money implied volatility for each expiration. A hump around a date often marks a scheduled event the market is pricing.
When does open interest expire?
Implied vs realized volatility
HV from our stored daily closes (annualized); IV30 interpolated from the chain. Method
Price, last 60 sessions
Track record
Full history →Every trading day we record what the options market is pricing for each expiration — before the outcome is known. Once expirations start resolving, this section compares expected versus actual, and the record is never rewritten. Recording since Aug 31, 2026.
Past earnings reactions
Avg |reaction| 5.4% · median 5.3% (20 reports) — two-session close-to-close window; definition
About Strategy Inc
Strategy Inc, together with its subsidiaries, operates as a bitcoin treasury company in the United States, Europe, the Middle East, Africa, and internationally. It offers investors varying degrees of economic exposure to Bitcoin by offering a range of securities, including equity and fixed income instruments. The company also provides AI-powered enterprise analytics software, including Strategy One, which provides non-technical users with the ability to directly access novel and actionable insights for decision-making. In addition, the company provides Strategy Mosaic, a universal intelligence layer that offers enterprises with consistent definitions and governance across data sources, regardless of where that data resides or which tools access it. The company was formerly known as MicroStrategy Incorporated and changed its name to Strategy Inc in August 2025. The company was incorporated in 1989 and is headquartered in Tysons Corner, Virginia.
Technology · Software - Application · NASDAQ · Profile: Financial Modeling Prep
MSTR news
All news →BYD Overseas Sales Strategy Pays Off; Tesla Reports A Mixed Bag In Europe
Yahoo Finance · Sep 02, 21:03 UTC ↗Related securities — Technology
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