MSTR Option Chain — Live

Business Intelligence / Bitcoin Treasury

Strategy (MicroStrategy Inc.) · All strikes, calls, puts, Greeks, IV, open interest. Updated every 30 seconds during market hours.

MSTR Strategy Builder →

$142.48

Live · updated Oct 26, 2026 17:27 UTC

Calls

Strike

Puts

Bid	Ask	Last	Vol	OI	IV%	Δ	Strike	Bid	Ask	Last	Vol	OI	IV%	Δ
28.67	29.36	29.13	22	17	—	—	114.00	0.27	0.33	0.28	213	398	—	—
27.93	28.44	28.41	41	195	—	—	115.00	0.27	0.34	0.31	3066	9.9K	—	—
26.40	28.36	27.30	33	45	—	—	116.00	0.32	0.38	0.33	202	192	—	—
25.42	27.32	26.37	38	41	—	—	117.00	0.30	0.41	0.37	141	861	—	—
25.15	25.74	25.39	71	32	—	—	118.00	0.39	0.42	0.38	102	397	—	—
23.45	24.70	24.40	157	29	—	—	119.00	0.43	0.46	0.41	366	221	—	—
22.46	24.08	23.49	163	488	—	—	120.00	0.47	0.49	0.47	4073	8.3K	112.1	-0.06
22.08	22.83	22.51	152	28	125.4	0.91	121.00	0.47	0.51	0.44	82	285	—	—
20.73	21.87	21.52	134	80	114.3	0.91	122.00	0.57	0.60	0.58	507	697	108.7	-0.08
19.72	20.81	20.55	153	246	108.3	0.91	123.00	0.63	0.67	0.60	578	909	107.2	-0.08
18.77	20.74	19.56	117	91	121.7	0.88	124.00	0.66	0.70	0.76	92	258	103.9	-0.09
18.46	19.40	18.69	87	266	122.2	0.86	125.00	0.75	0.77	0.75	2637	11.5K	102.6	-0.10
16.99	17.78	17.70	11	35	99.3	0.89	126.00	0.88	0.92	0.90	191	216	103.0	-0.11
16.69	16.74	16.11	24	71	105.5	0.87	127.00	0.99	1.02	0.93	347	841	101.7	-0.13
15.13	15.83	14.93	499	43	93.2	0.88	128.00	1.11	1.15	1.07	550	686	100.7	-0.14
14.88	15.29	13.95	524	36	105.8	0.83	129.00	1.21	1.29	1.23	381	938	99.1	-0.15
13.70	14.48	14.22	142	500	100.7	0.82	130.00	1.37	1.41	1.41	4553	2.3K	97.8	-0.17
12.95	13.54	13.37	193	30	99.2	0.81	131.00	1.54	1.59	1.68	175	509	97.0	-0.19
12.50	12.74	12.62	170	55	102.4	0.78	132.00	1.75	1.84	1.82	431	520	97.1	-0.21
11.40	11.87	11.82	743	72	97.0	0.77	133.00	1.98	2.06	1.98	555	669	96.5	-0.23
10.79	11.12	11.10	308	181	97.9	0.74	134.00	2.22	2.27	2.20	301	3.0K	95.5	-0.25
10.28	10.41	10.48	1587	387	99.7	0.72	135.00	2.51	2.54	2.51	2906	1.9K	95.1	-0.27
9.51	9.71	10.02	460	233	98.4	0.70	136.00	2.76	2.89	2.75	727	749	94.7	-0.30
8.94	8.99	9.05	988	116	98.4	0.67	137.00	3.10	3.18	3.00	904	439	94.1	-0.32
8.12	8.40	8.50	1992	110	96.8	0.65	138.00	3.54	3.64	3.50	1223	971	95.5	-0.35
7.59	7.62	7.86	746	138	95.8	0.62	139.00	3.95	3.97	3.69	1927	344	94.9	-0.38
6.86	6.97	7.20	2282	1.0K	93.6	0.59	140.00	4.28	4.32	4.17	3404	2.5K	93.3	-0.41
6.28	6.52	6.69	859	165	94.1	0.56	141.00	4.79	4.86	4.75	806	1.8K	94.4	-0.44
5.76	5.92	5.96	1840	254	93.2	0.54	142.00	5.27	5.37	5.20	745	1.6K	94.5	-0.46
5.44	5.50	5.37	977	646	95.2	0.51	143.00	5.72	5.87	5.64	2331	528	93.8	-0.49
4.86	5.06	5.05	1611	364	94.2	0.48	144.00	6.31	6.33	6.30	599	419	93.5	-0.52
4.41	4.49	4.58	5004	1.5K	92.8	0.45	145.00	6.77	7.01	6.84	3345	2.0K	93.4	-0.55
4.00	4.18	4.10	811	523	93.5	0.42	146.00	7.36	7.53	7.14	269	696	92.7	-0.58
3.63	3.70	4.05	681	769	92.6	0.40	147.00	8.16	8.26	7.87	140	675	95.0	-0.60
3.33	3.42	3.48	564	696	93.5	0.37	148.00	8.54	8.78	8.58	151	870	91.5	-0.63
2.95	3.08	3.13	611	841	92.8	0.34	149.00	9.31	9.54	9.24	162	417	93.0	-0.66
2.69	2.81	2.81	5304	10.8K	93.4	0.32	150.00	10.16	10.26	9.82	502	2.7K	94.5	-0.68
2.08	2.09	2.15	2492	5.8K	93.0	0.26	152.50	11.80	12.22	11.65	208	1.5K	93.5	-0.74
1.53	1.57	1.60	3548	5.1K	92.5	0.21	155.00	14.04	14.20	13.60	371	4.6K	96.5	-0.78
1.13	1.17	1.18	2037	5.8K	92.6	0.16	157.50	15.87	16.25	16.84	8	592	92.9	-0.83
0.87	0.91	0.90	4589	6.7K	94.2	0.13	160.00	17.88	18.54	17.85	276	4.0K	91.7	-0.88
0.65	0.69	0.73	2747	3.1K	95.1	0.10	162.50	19.14	21.29	19.23	9	171	79.7	-0.94
0.49	0.52	0.50	1882	3.2K	96.1	0.08	165.00	21.95	23.25	22.34	314	2.9K	79.6	-0.96
0.37	0.40	0.39	528	866	97.4	0.06	167.50	24.35	26.45	25.72	14	59	103.5	-0.92
0.29	0.33	0.33	2060	3.8K	—	—	170.00	27.44	28.61	27.57	71	225	116.5	-0.92

About Strategy (MicroStrategy Inc.) Options

Formerly MicroStrategy, Strategy runs an enterprise analytics business but is primarily known for holding one of the largest corporate Bitcoin treasuries.

MSTR options track Bitcoin with amplified volatility. Extreme IV, common proxy for BTC options, used for leveraged crypto bets and IV trades.

How to Read the MSTR Option Chain

Each row above is one strike price. Calls (right to buy MSTR) sit on the left; puts (right to sell) sit on the right. For both sides you see the bid, ask, last traded price, volume, implied volatility (IV%) and delta (Δ). The highlighted row is the at-the-money strike — the one closest to the current MSTR price of $142.48.

Bid/ask is what buyers are willing to pay and what sellers want; the midpoint is a fair estimate of the option's value. Last is the most recent trade. IV% is the market's implied forecast of MSTR's future price movement — higher IV means pricier premiums. Delta roughly equals how much the option price moves per $1 change in MSTR.

MSTR Option Chain FAQ

What is the MSTR option chain?

The MSTR option chain is the complete list of call and put options available on Strategy (MicroStrategy Inc.) for every strike price and expiration date. Each row shows the bid/ask, last trade, volume, open interest, implied volatility, and Greeks (delta, gamma, theta, vega) for one contract.

How often is this MSTR option chain updated?

Quotes, Greeks, and implied volatility refresh every 30 seconds during market hours — 9:30am to 4:00pm ET, Monday to Friday. Outside market hours the page refreshes more slowly. The timestamp in the header shows exactly when the data was last updated.

Where does MSTR options data come from?

Options data is sourced from an OPRA-backed market feed. Implied volatility and Greeks are computed using Black-Scholes-Merton pricing with a continuous dividend yield for Strategy (MicroStrategy Inc.).

How do I read an option chain?

Each row is a strike price. Call options (right to buy) are on the left, put options (right to sell) are on the right. For each side you see the bid (what buyers will pay), ask (what sellers want), last (last traded price), and Greeks. The ATM strike is highlighted — it is closest to the current MSTR price.

What are the Greeks in the MSTR option chain?

Delta measures how much the option price changes per $1 move in MSTR. Gamma is the rate of change of delta. Theta is daily time decay (negative for long options). Vega is sensitivity to implied-volatility changes. These appear per strike in the table above.

Why trade MSTR options?