Strategy Inc.’s Michael Saylor is declaring an end to the past year’s crypto market rout and predicting that Bitcoin is set to break $100,000 again.
MSTR Strategy Inc Common Stock Class A
XNAS 136.82 DelayedStock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
MSTR
$136.82
—
Key stats
$136.82
- 52-Week Range
- $81.81 – $306.16
- YTD
- -12.94%
- IV Rank (30D)
- 27.06
- Straddle Price
- $21.60
- P/C Vol Ratio
- 1.17
- Market Cap
- $64.1B
- Open
- $145.95
- Day Range
- $134.11 – $146.83
- Volume
- 31,967,770
- Prev Close
- $151.29
Fair Value
MODEL: NEUTRAL
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 5.21% |
| Beta vs SPY | 1.78 |
| Cost of Equity (CAPM) | 13.67% (VRP-adj) |
| WACC | 12.58% |
| Volatility Risk Premium | -4.0pp (IV − HV30), ERP adj -25bps |
| Effective Tax Rate | 21.0% |
| Rev. Growth (YoY, DCF input) | +6.9% |
| DCF Horizon | 5 years explicit + fade |
| Forward Tilt (NTM/TTM) | ×1.07 (applied to P/E, EV/EBITDA, P/S) |
| Free Cash Flow (TTM) | $-0.1B |
| Return on Equity (TTM) | -30.7% |
| Book / Price | 70.8% — banking bias active (P/B is primary) |
| Debt / Equity | 0.22 |
| Quality Score | 1/6 — cyclical/struggling (5y DCF) |
| SMA 50 | $134.12 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $157.26 |
| Bollinger Width / SMA20 | 10.0% (drives anchor stability) |
| Net Debt | $5.0B |
| Market Cap | $44B |
Peers used for multiples: ASST, CLSK, COIN, GLXY, MARA, RIOT
(filtered from 8 ETF-co-members; sector bias active)
60-Day Conviction
23%
20-Day Fair Value
≈ by Nov 16, 2026
$135.66
α -0.9%
rank 69%
conviction
52%
40-Day Fair Value
≈ by Dec 15, 2026
$134.54
α -1.7%
rank 69%
conviction
52%
60-Day Fair Value
≈ by Jan 13, 2027
$136.12
α -0.5%
rank 69%
conviction
23%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | n/a | 0% | |
| DDM (Gordon) | n/a | 0% | |
| Peer P/E | n/a | 0% | |
| Peer EV/EBITDA | n/a | 0% | |
| Peer P/B | $304.68 | 13% | median 2.8× · 6 peers |
| Peer P/S | n/a | 0% | median 5.6× · 6 peers |
| Market Anchor (SMA50) | $134.12 | 58% | stability 100% (BB-width) |
| Options Expected (B-L 30d) | $149.31 | 29% | 48 strikes · skew +0.26 |
As of 2026-10-16 · updated
Related
About
- Industry (SIC)
- FINANCE SERVICES (6199) · industry map
- Exchange
- XNAS
- Market Cap
- $64.1B
- Employees
- 1,539
- List Date
- 1998-06-11
- CIK
- 0001050446
- Next Earnings
- 2026-10-29 (After-Close)
- EPS Forecast
- $21.50 (3 est.)
- Headquarters
- Tysons Corner, VA
- Homepage
- https://www.strategy.com
Strategy Inc is a bitcoin treasury company and a provider of business intelligence services. It is designed to provide investors varying degrees of economic exposure to Bitcoin by offering a range of securities, including equity and fixed-income instruments. The company also provides industry AI-powered enterprise analytics software. It has one reportable operating segment: the Software Business, which is engaged in the design, development, marketing, and sales of the company's enterprise analytics software platform through cloud subscriptions and licensing arrangements and related services (i…
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 45.17% | -34.08% | 73.58% | -26.85% | 11.59% | -4.74% | 10.78% |
| Feb | 18.26% | 18.77% | -2.11% | 103.15% | -26.41% | -7.25% | 17.40% |
| Mar | -13.25% | 4.65% | 13.34% | 57.92% | 14.89% | -9.34% | 11.37% |
| Apr | -6.60% | -27.86% | 10.42% | -34.93% | 24.21% | 34.75% | -0.00% |
| May | -26.06% | -27.66% | -1.90% | 48.26% | -3.29% | -10.20% | -3.48% |
| Jun | 39.09% | -31.01% | 14.16% | -15.36% | 8.59% | -41.96% | -4.42% |
| Jul | -3.82% | 71.53% | 15.89% | 18.19% | 7.65% | -1.08% | 18.06% |
| Aug | 8.86% | -16.02% | -17.81% | -12.41% | -8.79% | 40.14% | -1.00% |
| Sep | -17.67% | -3.92% | -6.60% | 37.84% | -5.68% | 22.59% | 4.43% |
| Oct | 16.75% | 19.15% | 28.50% | 50.29% | -20.36% | -14.75%* | 13.26% |
| Nov | -2.00% | -22.98% | 16.79% | 68.68% | -33.06% | -- | 5.49% |
| Dec | -22.82% | -28.85% | 19.70% | -23.84% | -11.36% | -- | -13.43% |
| Total | 8.89% | -73.34% | 280.60% | 427.93% | -46.14% | -18.50% | 96.57% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $156.40
SMA 50: $134.92
SMA 200: $135.61
Current: $136.83
EMA 12: $150.25
EMA 26: $147.78
MACD: 2.4624 | Signal: -3.4312
BULLISH
ADX (14): 27.60
TREND
+DI: 18.95
−DI: 24.62
Momentum Oscillators
RSI (14): 42.61
NEUTRAL
Stoch %K: 19.77
Stoch %D: 20.20
Williams %R: -92.46
Volume & Volatility
BB Upper: $171.62
BB Lower: $141.18
OVERSOLD
OBV: -403,251,479
Vol SMA 20: 20,878,286
Vol ROC: 15.74%
ATR: $9.73
True Range: $17.18
HV 20: 67.8%
HV 30: 78.3%
HV 60: 84.5%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-18T00:00:00 – 2026-10-16T00:00:00
AI Analysis
MSTR Stock Analysis Report
Executive Summary
Overall Assessment: BEARISH | Confidence: 7/10
MicroStrategy (MSTR) presents a conflicted technical and fundamental picture with elevated risk that warrants caution. The stock has rallied 60% in three months but is now pulling back sharply—trading 11.3% below its 20-day moving average—amid deteriorating momentum and volume signals. While the recent Bitcoin rally has temporarily boosted sentiment, the company's extreme volatility (beta 3.19), negative alpha (-0.90), and heavy put positioning suggest institutional investors are hedging downside risk.
Key Drivers & Primary Risks:
- Driver: Bitcoin treasury holdings and macro crypto sentiment (highly leveraged play on BTC)
- Risk: Extreme leverage to Bitcoin, negative alpha indicating underperformance, deteriorating technical momentum despite recent headlines, potential profit-taking after 60% run
Investment Thesis: MSTR's rally appears technically exhausted following a 3-month surge, with price breaking below critical support levels and momentum indicators rolling over despite bullish MACD histogram. The options market is pricing $21.62 of expected movement, but open interest skews bearish (1.78 put/call OI ratio), suggesting institutional protection positioning ahead of earnings (Oct 29). This is a high-risk, high-reward play on Bitcoin, not a traditional business fundamentals story.
Recent News Sentiment Impact: Neutral-to-negative: Headlines highlight Bitcoin treasury gains (bullish) but raise questions about capital allocation and potential BTC sales (bearish). News has lagged technical deterioration—no recent headlines acknowledge the pullback from highs, suggesting sentiment lag and potential surprise downside.
Technical Analysis
Trend Direction
| Timeframe | Direction | Rationale | |-----------|-----------|-----------| | Short-term (1-4 weeks) | BEARISH | Price $138.75 is 11.3% below SMA20 ($156.50), indicating trend reversal. ADX 27.52 shows strong trend, but -DI (24.89) exceeds +DI (19.61)—downside pressure dominating. | | Medium-term (1-3 months) | MIXED/WEAKENING | Price remains above SMA50 ($134.96) and SMA200 ($135.62), but the 60% 3-month rally appears to be retracing. EMA12 ($150.54) and EMA26 ($147.93) are both above price, creating bearish compression. | | Long-term (3-12 months) | NEUTRAL | Price near 200-day MA suggests long-term support, but negative alpha (-0.90) and lack of fundamental business growth indicate structural underperformance. Entirely dependent on Bitcoin trajectory. |
Support & Resistance Levels
| Level | Type | Significance | |-------|------|--------------| | $171.24 | Resistance | Bollinger Band upper; 23.5% above current price; would represent full retracement of recent pullback | | $156.50 | Resistance/MA | SMA20; acted as dynamic support but now broken; trend confirmation if reclaimed | | $147.93 | Intermediate Support | EMA26; psychological level; close to current -DI/+DI crossover zone | | $141.75 | Support | Bollinger Band lower; current signal shows oversold positioning | | $135.62 | Critical Support | SMA200; 200-day average; major long-term support; 2.3% below current price | | $134.96 | Support | SMA50; if broken, suggests medium-term downtrend acceleration |
Critical Observation: Price is trading at the lower Bollinger Band edge ($141.75), technically oversold, but this hasn't triggered reversal yet. Break below $135.62 would signal breakdown of long-term support.
Momentum Signals
RSI (14): 43.70 — Neutral/Weak
- Not yet oversold (<30 would require $130-132 level)
- Declining from highs suggests momentum loss without capitulation
- Room to fall further before bounce signal triggered
- Interpretation: No reversal signal yet; downside momentum may continue
MACD: 2.62 (Histogram) vs Signal: -3.31 — Bullish Divergence Alert
- Positive histogram (5.92) indicates MACD above signal line = bullish crossover
- However: This is the only bullish technical indicator; massive divergence with other signals
- Signal line deeply negative (-3.31) suggests recent bearish momentum
- Interpretation: Early bullish setup forming, but contradicted by price action and RSI. Could indicate capitulation bottom forming, but too early to confirm.
Stochastic: %K 20.90, %D 20.58 — Severe Oversold
- Both below 30 threshold; extremely compressed readings
- Indicates washout selling; potential mean-reversion candidate
- Typically precedes bounces when this extreme
- Interpretation: Tactical bounce likely within 3-7 trading days, but doesn't guarantee trend reversal
Williams %R: -89.06 — Extreme Oversold Confirmation
- Far more negative than typical oscillator readings
- Reinforces that short-term selling is exhausted
- Interpretation: High probability of dead-cat bounce; not a reversal signal
Bollinger Bands Position: OVERSOLD SIGNAL
- Price touching lower band ($141.75)
- Width: $29.49 (upper $171.24 - lower $141.75) = 18.84% of price
- Bands are relatively narrow, indicating low volatility squeeze
- Interpretation: Classic mean-reversion setup; price pulled to extreme. Historical volatility (HV20 65.3% → HV60 83.8% rising) suggests volatility expanding, which typically accompanies moves away from bands. Given oversold stochastics, upside bounce likely in next 5-10 days.
Volume Analysis: CRITICAL RED FLAG
| Metric | Value | Interpretation | |--------|-------|-----------------| | Volume SMA20 | 19.79M shares | 20-day average baseline | | Volume Rate of Change | -63.50% | Volume declining sharply | | OBV | -381.49M | Deeply negative; selling pressure accumulating | | Recent Trend | Down 3 months | Volume on up moves declining; volume on down moves insufficient to push price lower on heavy volume |
Volume Interpretation — BEARISH DIVERGENCE:
- Current volume insufficient to support rally; pullback happening on declining volume suggests weak conviction selling rather than distribution
- Negative OBV indicates cumulative selling; $13B loss-to-$1.4B gain narrative (headline 4) may have driven retail buying at highs on low volume
- Volume declining 63.5% vs 20-day average = institutional disinterest in current price levels
- Implication: Bounce will likely occur on low volume, not sustainable
Institutional Interest Signals:
- Open Interest in puts (17,199) is 1.78x calls (9,676) = heavy hedging positioning
- Suggests institutions bought the dip or are protecting against downside
- Large position holders likely present; lack of volume suggests they're not aggressively buying on pullback
News & Sentiment Analysis
Recent Headlines Summary (Last 10 Articles)
| Date | Headline | Sentiment | Key Theme | Relevance | |------|----------|-----------|-----------|-----------| | 2026-10-09 | "MSTR Stock Rises 60% in Three Months" | NEUTRAL | Confirmatory; reflects what chart shows | Lagging indicator—headline after move complete | | 2026-10-05 | "Strategy Grows Bitcoin Holdings" | NEGATIVE | Capital allocation concern; dilutive to shareholders | Recent; questions use of capital | | 2026-10-02 | "MSTR Attracting Investor Attention" | NEUTRAL | Speculative interest | Vague; no fundamental catalyst | | 2026-08-21 | "Bitcoin Rally Flipped $13B Loss to $1.4B Gain" | NEUTRAL | Treasury mark-to-market | Notable: profit entirely from BTC, not operations | | 2026-07-11 | "MSTR Might Sell $1.25B in Bitcoin" | NEGATIVE | Capital structure uncertainty | Suggests potential dilution | | 2026-06-28 | "Investor Losses / Law Firm
Generated
News
All MSTR news →
Michael Saylor’s Strategy said Bitcoin holdings reached 848,250 BTC after its latest purchase, while maintaining a $4.88 billion cash reserve.
Strategy Inc. returned to profitability for the first time in four quarters after registering an unrealized gain from an increase in the value of its Bitcoin holdings during the late summer’s rally in the cryptocurrency.
Showing 1–10 of 16
Page 1 of 2
Earnings History
10 of 14 under expected move
Avg Expected Move
8.25%
Avg Actual Move
6.40%
| Earnings Date | Timing | Expected Move | Actual Move | Ratio | Outcome |
|---|---|---|---|---|---|
| 2021-01-28 | After-Close | 24.28% | 6.73% | 0.28x | Within |
| 2022-02-01 | After-Close | 10.13% | 6.48% | 0.64x | Within |
| 2023-02-02 | After-Close | 6.52% | 2.52% | 0.39x | Within |
| 2024-02-06 | After-Close | 5.66% | 2.01% | 0.36x | Within |
| 2024-04-29 | After-Close | 9.83% | 17.63% | 1.79x | Exceeded |
| 2024-08-01 | Pre-Market | 5.93% | 6.36% | 1.07x | Exceeded |
| 2024-10-30 | Pre-Market | 9.04% | 4.23% | 0.47x | Within |
| 2025-02-05 | After-Close | 6.90% | 3.34% | 0.48x | Within |
| 2025-05-01 | After-Close | 3.58% | 3.35% | 0.94x | Within |
| 2025-07-07 | After-Close | 4.31% | 0.32% | 0.07x | Within |
| 2025-10-30 | After-Close | 5.15% | 5.87% | 1.14x | Exceeded |
| 2026-02-05 | After-Close | 11.92% | 26.11% | 2.19x | Exceeded |
| 2026-05-05 | After-Close | 7.16% | 0.04% | 0.01x | Within |
| 2026-07-30 | After-Close | 5.04% | 4.56% | 0.90x | Within |
Earnings calendar: this week’s reports with expected vs actual moves →
MSTR Options Activity & IV Rank
MSTR IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 71.9%
7-DTE IV: 71.0%
Expected Move: $21.60
7-DTE Move: $10.80
Days to Exp: 28 (2026-11-13)
Options Flow
Call Volume: 3,210
Put Volume: 3,742
P/C Volume: 1.166
NEUTRAL
Call OI: 9,676
Put OI: 17,199
P/C OI: 1.777
Total OI: 26,875
ATM Options Pricing
ATM Call: $12.03
ATM Put: $9.57
Call %: 8.8%
Put %: 7.0%
Chain Summary
Chain Volume: 808,436
Chain OI: 2,690,613
Last Updated: 10/16/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
LOW γ vs HISTORY
Estimated net dealer gamma is at the 8th percentile of this name's own daily history, near the low end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
8%
vs own history
GEX tilt
-0.28
OI-weighted, today
Vanna tilt
+0.20
δ-sensitivity to IV
Charm tilt
-0.27
δ-decay vs time
? What is this?
· 291 ATM contracts, 357k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
100%
+20.6
pts
EXTREME
ATM 75.8% / Wing 96.5%
30 DTE / 10d
76%
+14.1
pts
EXTREME
ATM 71.4% / Wing 85.5%
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)26.7MediumOct 16
IV Rank (30 DTE)27.1MediumOct 16
Straddle Price (30 DTE)$21.60Oct 16
Beta Analysis
Risk Metrics
Beta: 3.1982
Alpha: -89.34%
Correlation: 0.4968
R-Squared: 24.7%
Stock Volatility: 82.0%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
MSTR Institutional Ownership (13F)
Latest filings — 2026-09-30
? 13F Guide
Diluted shares outstanding: 288,405,750 (as of 2026-03-31)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
83 filers$8.64B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Wolverine Trading, LLC Custodian | $1.86B | 21.58% | 2025-09-30 |
| 2 | Tidal Investments LLC | $1.21B | 13.99% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $1.07B | 12.34% | 2026-06-30 |
| 4 | Susquehanna International Group, LLP Custodian | $1.06B | 12.30% | 2026-06-30 |
| 5 | Jane Street Group, LLC Custodian | $1.04B | 12.06% | 2026-06-30 |
| 6 | CTC LLC | $1.00B | 11.61% | 2026-06-30 |
| 7 | Point72 Europe (London) LLP | $202.99M | 2.35% | 2025-09-30 |
| 8 | D. E. Shaw & Co., Inc. Custodian | $141.06M | 1.63% | 2026-06-30 |
| 9 | Belvedere Trading LLC | $119.12M | 1.38% | 2026-06-30 |
| 10 | Millennium Management LLC Custodian | $109.60M | 1.27% | 2026-06-30 |
| 11 | Marex Group Ltd | $109.38M | 1.27% | 2026-06-30 |
| 12 | UBS Group AG Custodian | $100.15M | 1.16% | 2026-06-30 |
| 13 | LMR Partners LLP | $74.66M | 0.86% | 2026-06-30 |
| 14 | Goldman Sachs Group Inc Custodian | $50.06M | 0.58% | 2026-06-30 |
| 15 | Qube Research & Technologies Ltd | $50.04M | 0.58% | 2026-06-30 |
| 16 | TUDOR INVESTMENT CORP ET AL | $45.29M | 0.52% | 2026-06-30 |
| 17 | Walleye Trading LLC | $43.34M | 0.50% | 2026-06-30 |
| 18 | EXCHANGE TRADED CONCEPTS, LLC | $39.31M | 0.46% | 2026-06-30 |
| 19 | Parallax Volatility Advisers, L.P. | $36.48M | 0.42% | 2026-06-30 |
| 20 | PEAK6 LLC | $33.16M | 0.38% | 2026-06-30 |
| 21 | CANTOR FITZGERALD, L. P. | $25.21M | 0.29% | 2026-06-30 |
| 22 | Vontobel Holding Ltd. | $20.85M | 0.24% | 2026-06-30 |
| 23 | Defiance ETFs, LLC | $17.39M | 0.20% | 2026-06-30 |
| 24 | DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | $16.43M | 0.19% | 2026-06-30 |
| 25 | HSBC Holdings plc Custodian | $13.27M | 0.15% | 2026-06-30 |
85 filers$8.45B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $1.43B | 16.87% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $1.11B | 13.10% | 2026-06-30 |
| 3 | Jane Street Group, LLC Custodian | $1.08B | 12.77% | 2026-06-30 |
| 4 | Wolverine Trading, LLC Custodian | $1.07B | 12.69% | 2025-09-30 |
| 5 | CTC LLC | $814.64M | 9.64% | 2026-06-30 |
| 6 | Goldman Sachs Group Inc Custodian | $411.68M | 4.87% | 2026-06-30 |
| 7 | Tidal Investments LLC | $150.76M | 1.78% | 2026-06-30 |
| 8 | Belvedere Trading LLC | $144.76M | 1.71% | 2026-06-30 |
| 9 | LMR Partners LLP | $142.10M | 1.68% | 2026-06-30 |
| 10 | Wells Fargo & Company Custodian | $132.32M | 1.57% | 2026-06-30 |
| 11 | PEAK6 LLC | $128.02M | 1.51% | 2026-06-30 |
| 12 | CAPSTONE INVESTMENT ADVISORS, LLC | $119.28M | 1.41% | 2026-06-30 |
| 13 | WOLVERINE ASSET MANAGEMENT LLC | $118.09M | 1.40% | 2026-06-30 |
| 14 | Parallax Volatility Advisers, L.P. | $104.77M | 1.24% | 2026-06-30 |
| 15 | Sessa Capital IM, L.P. | $99.97M | 1.18% | 2026-06-30 |
| 16 | D. E. Shaw & Co., Inc. Custodian | $96.87M | 1.15% | 2026-06-30 |
| 17 | Capula Management Ltd | $87.30M | 1.03% | 2026-06-30 |
| 18 | Ameriprise Financial, Inc. Custodian | $86.93M | 1.03% | 2026-06-30 |
| 19 | Balyasny Asset Management L.P. | $81.47M | 0.96% | 2026-06-30 |
| 20 | Marex Group Ltd | $80.61M | 0.95% | 2026-06-30 |
| 21 | Hudson Bay Capital Management LP | $77.69M | 0.92% | 2026-06-30 |
| 22 | Marshall Wace, LLP Custodian | $77.05M | 0.91% | 2026-06-30 |
| 23 | Millennium Management LLC Custodian | $75.88M | 0.90% | 2026-06-30 |
| 24 | Barclays PLC Custodian | $65.10M | 0.77% | 2026-06-30 |
| 25 | Qube Research & Technologies Ltd | $52.94M | 0.63% | 2026-06-30 |
MSTR Insider Trading (Form 4)
Latest: 2026-10-13Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-10-13 | Jarrod M Patten | Director | Mixed | — | $85.89 | -$372.1K | EDGAR |
| 2026-09-23 | Jarrod M Patten | Director | Mixed | — | $94.62 | -$72.6K | EDGAR |
| 2026-09-22 | Jarrod M Patten | Director | Mixed | — | $92.78 | -$212.5K | EDGAR |
| 2026-09-08 | Thomas C. Chow | EVP & General Counsel | Sell (S) | −106 | $138.75 | -$14.7K | EDGAR |
| 2026-08-31 | Jarrod M Patten | Director | Mixed | — | $74.12 | -$206.8K | EDGAR |
| 2026-08-26 | Jarrod M Patten | Director | Mixed | −1,850 | $89.14 | -$427.2K | EDGAR |
| 2026-08-10 | Jarrod M Patten | Director | Mixed | −925 | $66.15 | -$336.7K | EDGAR |
| 2026-07-28 | Jarrod M Patten | Director | Mixed | — | $56.85 | -$301.2K | EDGAR |
| 2026-07-23 | Jarrod M Patten | Director | Mixed | — | $59.12 | -$102.2K | EDGAR |
| 2026-06-24 | Jarrod M Patten | Director | Mixed | — | $62.16 | -$131.8K | EDGAR |
| 2026-03-31 | Jarrod M Patten | Director | Mixed | — | $73.35 | -$76.6K | EDGAR |
| 2025-01-23 | Brian P Brooks | Director | Grant (A) | +6,454 RSU | — | EDGAR | |
| 2025-01-23 | Jane A Dietze | Director | Grant (A) | +6,454 opt | — | EDGAR | |
| 2025-01-23 | Gregg Winiarski | Director | Grant (A) | +6,454 opt | — | EDGAR | |
| 2024-11-25 | Stephen X Graham | Director | Mixed | — | $234.80 | -$8.66M | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
MSTR Insider Holdings
8 insiders · @ $136.83
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Leslie J Rechan | Director | 42,470 | $5.81M | -$22.31M | 14 | 2024-11-12 |
| 2 | Jarrod M Patten | Director | 29,806 | $4.08M | -$29.44M | 42 | 2026-10-13 |
| 3 | Stephen X Graham | Director | 23,197 | $3.17M | -$41.65M | 23 | 2024-11-25 |
| 4 | Andrew Kang | SEVP & CFO | 14,680 | $2.01M | -$5.03M | 8 | 2024-11-08 |
| 5 | Phong Le | President & CEO | 13,918 | $1.90M | -$114.77M | 29 | 2024-11-15 |
| 6 | Wei-Ming Shao | SEVP & General Counsel | 7,708 | $1.05M | -$53.81M | 36 | 2024-11-15 |
| 7 | Jeanine Montgomery | SVP & CAO | 6,472 | $885.6K | -$21.72M | 17 | 2024-11-19 |
| 8 | Thomas C. Chow | EVP & General Counsel | 11 | $1.5K | -$14.7K | 1 | 2026-09-08 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
MSTR Proposed Insider Sales (Form 144)
Latest: 2026-10-09
? Form 144 Guide
Last 30d:
4 filings
· $742K notice value
· Last 90d:
12 filings
· $2.3M notice value
· 2 unique filers
What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.
How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.
10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.
"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.
Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.
Top 90-day filers:
Patten Jarrod M (11, $2.3M) · Chow Thomas C. (1, $15K)
| Filed | Filer | Role | Shares | Notice Value | Planned Sale | Broker | Plan | Link |
|---|---|---|---|---|---|---|---|---|
| 2026-10-09 | Patten Jarrod M | Director | 1,350 | $210.8K | 2026-10-09 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-10-08 | Patten Jarrod M | Director | 1,400 | $211.4K | 2026-10-08 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-09-22 | Patten Jarrod M | Director | 475 | $81.2K | 2026-09-22 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-09-21 | Patten Jarrod M | Director | 1,425 | $238.4K | 2026-09-21 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-09-04 | Chow Thomas C. | Officer | 106 | $14.7K | 2026-09-04 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-08-27 | Patten Jarrod M | Director | 1,850 | $240.5K | 2026-08-27 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-08-25 | Patten Jarrod M | Director | 2,775 | $347.8K | 2026-08-25 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-08-24 | Patten Jarrod M | Director | 925 | $113.2K | 2026-08-24 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-08-07 | Patten Jarrod M | Director | 3,800 | $389.1K | 2026-08-07 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-07-27 | Patten Jarrod M | Director | 1,950 | $192.0K | 2026-07-27 | Fidelity Brokerage Services LLC | — | EDGAR |
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
Recent SEC Filings
Latest: 2026-06-01
Current reports — material events the company must disclose within 4 business days (earnings releases, M&A, executive changes, etc.).
| Filing Date | Accession | Link |
|---|---|---|
| 2026-06-01 | 0001193125-26-249768 | EDGAR |
| 2026-05-26 | 0001193125-26-237907 | EDGAR |
| 2026-05-18 | 0001193125-26-227918 | EDGAR |
| 2026-05-15 | 0001193125-26-225361 | EDGAR |
| 2026-05-11 | 0001193125-26-215754 | EDGAR |
| 2026-05-05 | 0001050446-26-000024 | EDGAR |
| 2026-05-04 | 0001193125-26-202611 | EDGAR |
| 2026-05-01 | 0001193125-26-199155 | EDGAR |
| 2026-04-27 | 0001193125-26-178994 | EDGAR |
| 2026-04-20 | 0001193125-26-162756 | EDGAR |
Annual report — audited financial statements, MD&A, risk factors. Filed 60–90 days after fiscal year-end.
Quarterly report — unaudited financials and MD&A. Filed 40–45 days after each of the first three fiscal quarters.
| Filing Date | Accession | Link |
|---|---|---|
| 2026-05-06 | 0001050446-26-000031 | EDGAR |
| 2025-11-03 | 0001193125-25-262568 | EDGAR |
| 2025-08-05 | 0000950170-25-102209 | EDGAR |
| 2025-05-05 | 0000950170-25-063536 | EDGAR |
| 2024-10-31 | 0000950170-24-119263 | EDGAR |
| 2024-08-06 | 0000950170-24-091778 | EDGAR |
| 2024-05-01 | 0000950170-24-051230 | EDGAR |
| 2023-11-01 | 0000950170-23-057418 | EDGAR |
| 2023-08-01 | 0000950170-23-036448 | EDGAR |
| 2023-05-01 | 0000950170-23-016229 | EDGAR |
ETF Holders
194 ETFs hold MSTR
25 shown · $8.05B total exposure · 0.43% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | VTI Vanguard Morningstar Total Stock Market ETF | Vanguard | 0.08% | $1.8B | — | 2026-09-30 |
| 2 | VO Vanguard Morningstar Mid-Cap ETF | Vanguard | 0.55% | $1.2B | — | 2026-09-30 |
| 3 | QQQ Invesco QQQ Trust, Series 1 | Invesco | 0.22% | $1.1B | — | 2026-10-14 |
| 4 | VXF Vanguard Extended Market ETF | Vanguard | 0.67% | $628.6M | — | 2026-09-30 |
| 5 | VTV Vanguard Morningstar Value ETF | Vanguard | 0.21% | $531.7M | — | 2026-09-30 |
| 6 | PFF iShares Preferred and Income Securities ETF | iShares (BlackRock) | 3.52% | $421.2M | $12.1B | 2026-10-14 |
| 7 | VOE Vanguard Morningstar Mid-Cap Value ETF | Vanguard | 0.95% | $348.5M | — | 2026-09-30 |
| 8 | CGGR Capital Group Growth ETF | Capitalgroup | 1.21% | $316.9M | $26.1B | 2026-10-14 |
| 9 | VGT Vanguard Information Technology ETF | Vanguard | 0.16% | $291.2M | — | 2026-09-30 |
| 10 | IGV iShares Expanded Tech-Software Sector ETF | iShares (BlackRock) | 1.79% | $266.5M | $15.2B | 2026-10-14 |
| 11 | QQQM Invesco NASDAQ 100 ETF | Invesco | 0.22% | $243.0M | — | 2026-10-14 |
| 12 | GRNY Fundstrat Granny Shots US Large Cap ETF | Nport | 2.98% | $130.4M | — | 2026-04-30 |
| 13 | IWD iShares Russell 1000 Value ETF | iShares (BlackRock) | 0.14% | $112.7M | $83.8B | 2026-10-14 |
| 14 | QTEC First Trust NASDAQ-100-Technology Sector Index Fund | First Trust | 2.35% | $107.3M | $4.6B | 2026-10-14 |
| 15 | SCHG Schwab U.S. Large-Cap Growth ETF | Nport | 0.17% | $106.5M | — | 2026-05-31 |
| 16 | ITOT iShares Core S&P Total U.S. Stock Market ETF | iShares (BlackRock) | 0.07% | $67.8M | $97.1B | 2026-10-14 |
| 17 | VV Vanguard Morningstar Large-Cap ETF | Vanguard | 0.09% | $65.7M | — | 2026-09-30 |
| 18 | IYW iShares U.S. Technology ETF | iShares (BlackRock) | 0.25% | $61.9M | $25.1B | 2026-10-14 |
| 19 | SCHX Schwab U.S. Large-Cap ETF | Nport | 0.07% | $53.1M | — | 2026-05-31 |
| 20 | VLUE iShares MSCI USA Value Factor ETF | iShares (BlackRock) | 0.56% | $50.8M | $9.2B | 2026-10-14 |
| 21 | VT Vanguard Total World Stock ETF | Vanguard | 0.05% | $46.7M | — | 2026-09-30 |
| 22 | IWB iShares Russell 1000 ETF | iShares (BlackRock) | 0.07% | $34.7M | $49.1B | 2026-10-14 |
| 23 | VONV Vanguard Russell 1000 Value ETF | Vanguard | 0.15% | $34.5M | — | 2026-09-30 |
| 24 | FTEC Fidelity MSCI Information Technology Index ETF | Fidelity | 0.16% | $34.2M | $21.7B | 2026-10-14 |
| 25 | TQQQ ProShares UltraPro QQQ | ProShares | 0.09% | $32.3M | — | 2026-10-15 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
—
TTM Diluted EPS
—
TTM Revenue
—
TTM Net Income
—
TTM Op. Cash Flow
—
Quarterly figures (12 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q2 '26 | 2026-06-30 | $122.37M | $-8.62B | $-24.45 | — |
| Q3 '26 | 2026-03-31 | $124.30M | $-12.77B | $-38.25 | $13.99M |
| Q3 '25 | 2025-09-30 | $128.69M | $2.65B | $8.42 | $7.42M |
| Q2 '25 | 2025-06-30 | $114.49M | $9.97B | $32.60 | $-50.64M |
| Q1 '25 | 2025-03-31 | $111.07M | $-4.23B | $-16.49 | $-2.39M |
| Q4 '24 | 2024-12-31 | $120.70M | $-670.81M | $-3.35 | $-17.32M |
| Q3 '24 | 2024-09-30 | $116.07M | $-340.17M | $-1.72 | $-40.97M |
| Q2 '24 | 2024-06-30 | $111.44M | $-102.56M | $-0.57 | $-15.88M |
| Q1 '24 | 2024-03-31 | $115.25M | $-53.12M | $-0.31 | $28.59M |
| Q4 '23 | 2023-12-31 | $124.48M | $89.13M | $0.25 | $1.18M |
| Q3 '23 | 2023-09-30 | $129.46M | $-143.44M | $-1.01 | $-7.40M |
| Q2 '23 | 2023-06-30 | $120.40M | $22.24M | $0.15 | $-18.47M |
Q2 2026 • period ending 2026-06-30 • filed 2026-08-03
Valuation
Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.
Price Multiples
- P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
- P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
- P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
- EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
- EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
- ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
- ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
- Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
- FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
- Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
- Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
- Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
- Multiples expanding while earnings are flat = sentiment-driven rally.
- Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
1.08
P/S
85.62
EV/EBITDA
—
EV/Sales
98.54
ROE
-30.7%
ROA
-20.7%
Div Yield
0.00%
FCF Yield
-0.10%
Debt/Equity
0.22
Current Ratio
—
Market Cap
$39.46B
as of 2026-10-16
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
29.38M
SI % of Float
8.13%
Days to Cover
1.23
Short Vol Ratio
44.6%
Free Float
361.19M
Float %
99.1%
Short interest 2026-09-30 • Short volume 2026-10-16 • Float 2026-08-24