The options tape classified a multi-leg trade in MSTR with $86.59M 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 | 2 observed legs |
|---|---|
| Expiration | 2026-08-21 |
| Premium | $86.59M |
| First leg contracts | 4,901 |
| First leg price | $89.35 |
| First leg sentiment | BEARISH |
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.
