MSTR
MicroStrategy IncorporatedPrices and gamma are point-in-time snapshots taken at the time shown. Dealer positioning is an assumption, not an observable: open interest shows that a contract exists, never which side a dealer holds. How dealer gamma is computed.
LIVE MARKET SNAPSHOT
| Call Wall | 135 |
| Put Wall | 125 |
| GEX Flip | 130 |
| Vol Trigger | 130 |
| Net GEX | $54.8M |
Cached snapshot as of 2026-09-16 09:10 UTC, live streaming data in the terminal.
MSTR DEALER GAMMA BY STRIKE
Part of the SquawkFlow GEX Calculator: gamma by strike for any US stock. Compare with SPX GEX.
Net gamma exposure at each strike near MSTR's spot price, signed from the dealer perspective, calls positive, puts negative. Green strikes are where hedging tends to dampen moves; red is where it tends to amplify them. Dealer positioning is an assumption rather than an observable, so treat these as a map of where hedging pressure concentrates, not a forecast.
Unit: USD of dealer gamma per 1 percent move in spot. A window of the MSTR option chain, not the whole book: the 30 strikes nearest spot out of 78 seen, 1,516 contract rows spanning 19 expirations. Gamma is taken as the chain publishes it per contract; nothing here is re-priced. Crossed with the open interest carried on that chain.
New to these levels? Start with the call wall and put wall, or the zero gamma level where the sign of dealer hedging flips.
| Strike | Net GEX | Call GEX | Put GEX | Concentration |
|---|---|---|---|---|
| 114 | -$86.6K | $82.0K | -$168.6K | |
| 115 | -$1.1M | $2.1M | -$3.2M | |
| 116 | -$282.1K | $31.2K | -$313.3K | |
| 117 | -$262.7K | $70.1K | -$332.8K | |
| 118 | -$247.9K | $37.9K | -$285.8K | |
| 119 | -$1.1M | $31.5K | -$1.1M | |
| 120 | -$3.9M | $3.7M | -$7.6M | |
| 121 | -$545.7K | $70.3K | -$616.0K | |
| 122 | -$315.4K | $160.6K | -$476.0K | |
| 123 | -$2.2M | $168.4K | -$2.4M | |
| 124 | -$1.6M | $167.9K | -$1.8M | |
| 125PUT WALL | -$6.3K | $8.1M | -$8.1M | |
| 126 | -$523.4K | $223.4K | -$746.8K | |
| 127 | -$323.1K | $538.3K | -$861.4K | |
| 128SPOT | -$187.1K | $668.1K | -$855.2K | |
| 129 | -$499.6K | $284.8K | -$784.4K | |
| 130GEX FLIP | $3.1M | $10.6M | -$7.5M | |
| 131 | -$1.1M | $911.0K | -$2.0M | |
| 132 | $738.3K | $1.9M | -$1.1M | |
| 133 | $1.4M | $1.9M | -$582.2K | |
| 134 | $2.3M | $2.6M | -$387.1K | |
| 135CALL WALL | $14.8M | $20.0M | -$5.2M | |
| 136 | $5.7M | $6.5M | -$817.6K | |
| 137 | $96.7K | $539.2K | -$442.5K | |
| 138 | $7.4M | $7.6M | -$265.4K | |
| 139 | $8.7M | $8.8M | -$121.8K | |
| 140 | $9.5M | $13.7M | -$4.2M | |
| 141 | $6.7M | $6.8M | -$100.6K | |
| 142 | $5.0M | $5.0M | -$31.3K | |
| 143 | $3.7M | $3.7M | -$32.3K |
These levels were captured September 16, 2026 from the open interest carried on the option chain. New levels post before each market open. Today's SPX gamma levels.
ABOUT MSTR
MicroStrategy provides enterprise analytics and mobility software, but is primarily known as the largest corporate holder of Bitcoin, with a treasury strategy centered on accumulating BTC. The company has purchased over 200,000 Bitcoin using operating cash flow, debt offerings, and equity issuances.
WHY TRACK MSTR ON SQUAWKFLOW
MSTR is the highest-beta Bitcoin proxy in the equity market, often moving 2-3x BTC daily moves. Options volume in MSTR rivals many mega-cap stocks due to leveraged crypto speculation. Convertible bond structures and at-the-market equity offerings create unique options dynamics.
MSTR DATA ON SQUAWKFLOW
Options Flow
MSTR options flow, unusual activity, and volume concentrations from the session chain
Latest Snapshot
Last MSTR price, change, volume, and the current dealer-gamma regime
GEX Dashboard
MSTR gamma exposure levels, call/put walls, and GEX flip
AI Narration
AI-powered analysis of MSTR market microstructure in real time
News Sentiment
MSTR news with AI sentiment scoring and impact analysis
Sector Context
Finance sector rotation and relative strength vs peers
Track MSTR in the Terminal
Options flow, per-strike dealer gamma, key levels, and AI narration, free.
Open Terminal →LEARN MORE
A practical guide to reading dealer positioning data and understanding how market maker flows affect price action.
What is Gamma Exposure (GEX)? A Complete GuideUnderstanding gamma exposure and how dealer hedging creates support and resistance levels in the market.