MicroStrategy (MSTR)
NASDAQ: MSTR
· Real-Time Price · USD
363.58
-2.74 (-0.75%)
At close: Aug 18, 2025, 3:59 PM
364.00
0.12%
After-hours: Aug 18, 2025, 07:59 PM EDT
MSTR Delta Exposure By Expiry
The total Delta Exposure (DEX) for MSTR across all expirations shows 93,673,764.29 net shares that market makers must hedge, with 158,077,114.12 from calls and 64,403,349.83 from puts. The put-call delta ratio of 0.41 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Jan 16, 26 with 38,442,678.11 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Aug 22, 25 carries negative delta forcing market makers to buy shares, potentially providing support.
MSTR DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Aug 22, 25 | 3,352,754.99 | -10,965,698.84 | -7,612,943.85 | 3.27 |
| Aug 29, 25 | 2,247,105.58 | -9,996,123.54 | -7,749,017.96 | 4.45 |
| Sep 5, 25 | 1,125,689.13 | -5,298,319.6 | -4,172,630.47 | 4.71 |
| Sep 12, 25 | 424,110.3 | -3,358,840.62 | -2,934,730.32 | 7.92 |
| Sep 19, 25 | 29,265,811.66 | -11,211,779.66 | 18,054,032 | 0.38 |
| Sep 26, 25 | 295,116.82 | -1,091,147.54 | -796,030.72 | 3.70 |
| Oct 17, 25 | 9,811,836.6 | -3,102,667.43 | 6,709,169.17 | 0.32 |
| Nov 21, 25 | 1,479,986.55 | -1,547,000.18 | -67,013.63 | 1.05 |
| Dec 19, 25 | 30,805,180.17 | -3,782,600 | 27,022,580.17 | 0.12 |
| Jan 16, 26 | 43,589,462.83 | -5,146,784.72 | 38,442,678.11 | 0.12 |
| Feb 20, 26 | 573,373.87 | -343,131.99 | 230,241.88 | 0.60 |
| Mar 20, 26 | 1,962,172.66 | -1,273,175.32 | 688,997.34 | 0.65 |
| Apr 17, 26 | 5,187.08 | -1,415.16 | 3,771.92 | 0.27 |
| Jun 18, 26 | 17,175,359.8 | -3,355,776.68 | 13,819,583.12 | 0.20 |
| Sep 18, 26 | 449,273.92 | -155,347.36 | 293,926.56 | 0.35 |
| Dec 18, 26 | 2,208,732.84 | -596,178.63 | 1,612,554.21 | 0.27 |
| Jan 15, 27 | 8,590,773.79 | -1,945,934.82 | 6,644,838.97 | 0.23 |
| Jun 17, 27 | 2,016,750.6 | -521,297.94 | 1,495,452.66 | 0.26 |
| Sep 17, 27 | 46,338.63 | -48,499.93 | -2,161.3 | 1.05 |
| Dec 17, 27 | 2,652,096.3 | -661,629.87 | 1,990,466.43 | 0.25 |