The options tape classified a multi-leg trade in MSTR with $12.14M of traded premium.
What changed for $MSTR?
This classification comes from the actual option-event tape, including the execution pattern and strategy type, rather than being inferred from end-of-day chain volume.
| Structure | 3 observed legs |
|---|---|
| Expiration | 2026-09-25 |
| Premium | $12.14M |
| First leg contracts | 1,300 |
| First leg price | $7.00 |
| First leg sentiment | BEARISH |
LOADING $MSTR LIVE MARKET DATA
What does this $MSTR signal not prove?
A classified trade does not reveal the trader’s full portfolio, hedge, or final intent. Multi-leg sentiment can differ by leg and should not be reduced to a single directional claim.

