MSTYYieldMaxOption-Income

as of Oct 27, 2026

Holdings

Options

AUM

$1.0B

Total Wt

101.3%

Net Flow 7d

+0.4%

Positionsas of 2026-10-26· Δ shares vs Mon Oct 26

77% covered23% uncovered100% held synthetically

Share of the $1.06B stock book with a call written against it, by value. Uncovered stock keeps all of its upside and pays no premium.

1 stocks11 option legs98% in T-bills & cash

1 positions

MSTR*all synthetic · 11 legs

7,596,500

$139.84

$1.06B

98.2%

—

77%

+7.3%

10/30/26 150 CWritten call4 DTE · opened 10/23 · 7.3% upside roomopened 10/23

-7,500

$4.35

-$3.26M

-0.30%

+7.3%

10/30/26 152.5 CWritten call4 DTE · opened 10/23 · 9.1% upside roomopened 10/23

-32,940

$3.65

-$12.02M

-1.12%

+9.1%

10/30/26 155 CWritten call4 DTE · opened 10/23 · 10.8% upside roomopened 10/23

-17,750

$2.90

-$5.14M

-0.48%

+10.8%

10/30/26 157.5 CLong call4 DTE · opened 10/23opened 10/23

+250

$2.32

$58.0K

0.01%

10/30/26 160 CLong call4 DTE · opened 10/23opened 10/23

+31,940

$1.81

$5.77M

0.54%

10/30/26 162.5 CLong call4 DTE · opened 10/26opened 10/26

+21,000

$1.43

$2.99M

0.28%

10/30/26 165 CLong call4 DTE · opened 10/26opened 10/26

+5,000

$1.12

$560.0K

0.05%

11/20/26 135 CSynthetic stock25 DTE

+41,350

$18.13

$74.95M

6.97%

11/20/26 135.01 PSynthetic stock25 DTE

-41,350

$6.62

-$27.36M

-2.54%

12/18/26 150.01 CSynthetic stock53 DTE

+34,615

$14.67

$50.78M

4.72%

12/18/26 150.01 PSynthetic stock53 DTE

-34,615

$17.58

-$60.84M

-5.66%

Treasury bills & notes5 lines

$724.64M

67.4%

Cash & money market2 lines

$324.59M

30.2%

* Includes synthetic shares — a long call and short put at the same strike and expiry, which behaves like owning 100 shares per contract. Market value shows the stock exposure, not the option premium.

Option ActivityMon, Oct 12 – Mon, Oct 26

16 spreads · 15 opened · 12 reduced · 6 rolls · 4 expired · 3 added · 2 other pairs · 2 flipped · 2 closed

Mon, Oct 26vs Fri, Oct 2310 trades

ExpiredMSTR

155C 10/23/26 · long

155C 10/23/26 -29,140 (29,140 → 0)

29,140 ct

SpreadMSTR

10/30/26 152.5/160 call spread · credit · resized

152.5C 10/30/26 -27,940 (-5,000 → -32,940)160C 10/30/26 +27,940 (4,000 → 31,940)

27,940 ct

OpenedMSTR

162.5C 10/30/26 · long

162.5C 10/30/26 +21,000 (0 → 21,000)

21,000 ct

RollMSTR

148C 10/23/26155C 10/30/26· written

148C 10/23/26 +21,000 (-21,000 → 0)155C 10/30/26 -21,000 (3,250 → -17,750)

21,000 ct

ExpiredMSTR

145C 10/23/26 · written

145C 10/23/26 +7,900 (-7,900 → 0)

7,900 ct

SpreadMSTR

10/23/26 139/144 call spread · credit · closed

139C 10/23/26 +5,900 (-5,900 → 0)144C 10/23/26 -5,900 (5,900 → 0)

5,900 ct

RollMSTR

152.5C 10/23/26165C 10/30/26· long

152.5C 10/23/26 -5,000 (5,000 → 0)165C 10/30/26 +5,000 (0 → 5,000)

5,000 ct

PairMSTR

146C 10/23/26 + 157.5C 10/30/26 · equal size, no standard shape

146C 10/23/26 +5,000 (-5,000 → 0)157.5C 10/30/26 -5,000 (5,250 → 250)

5,000 ct

SpreadMSTR

10/23/26 141/147 call spread · credit · closed

141C 10/23/26 +5,000 (-5,000 → 0)147C 10/23/26 -5,000 (5,000 → 0)

5,000 ct

ExpiredMSTR

150C 10/23/26 · written

150C 10/23/26 +240 (-240 → 0)

240 ct

Fri, Oct 23vs Thu, Oct 2211 trades

OpenedMSTR

150C 10/30/26 · written

150C 10/30/26 -7,500 (0 → -7,500)

7,500 ct

SpreadMSTR

10/23/26 152.5/157.5 call spread · credit · resized

152.5C 10/23/26 +7,000 (-2,000 → 5,000)157.5C 10/23/26 -7,000 (7,000 → 0)

7,000 ct

SpreadMSTR

10/23/26 142/148 call spread · credit · resized

142C 10/23/26 +6,140 (-6,140 → 0)148C 10/23/26 -6,140 (-14,860 → -21,000)

6,140 ct

OpenedMSTR

157.5C 10/30/26 · long

157.5C 10/30/26 +5,250 (0 → 5,250)

5,250 ct

FlippedMSTR

150C 10/23/26 · written

150C 10/23/26 -5,140 (4,900 → -240)

5,140 ct

OpenedMSTR

152.5C 10/30/26 · written

152.5C 10/30/26 -5,000 (0 → -5,000)

5,000 ct

OpenedMSTR

160C 10/30/26 · long

160C 10/30/26 +4,000 (0 → 4,000)

4,000 ct

OpenedMSTR

155C 10/30/26 · long

155C 10/30/26 +3,250 (0 → 3,250)

3,250 ct

AddedMSTR

155C 10/23/26 · long

155C 10/23/26 +3,140 (26,000 → 29,140)

3,140 ct

ReducedMSTR

139C 10/23/26 · written

139C 10/23/26 +2,500 (-8,400 → -5,900)

2,500 ct

AddedMSTR

145C 10/23/26 · written

145C 10/23/26 -500 (-7,400 → -7,900)

500 ct

Thu, Oct 22vs Wed, Oct 214 trades

ReducedMSTR

148C 10/23/26 · written

148C 10/23/26 +2,475 (-17,335 → -14,860)

2,475 ct

ReducedMSTR

150C 10/23/26 · long

150C 10/23/26 -2,000 (6,900 → 4,900)

2,000 ct

SpreadMSTR

10/23/26 141/147 call spread · credit · resized

141C 10/23/26 +2,000 (-7,000 → -5,000)147C 10/23/26 -2,000 (7,000 → 5,000)

2,000 ct

ReducedMSTR

155C 10/23/26 · long

155C 10/23/26 -475 (26,475 → 26,000)

475 ct

Show 7 earlier days

Wed, Oct 21vs Tue, Oct 203 trades

SpreadMSTR

10/23/26 155/157.5 call spread · credit · resized

155C 10/23/26 +3,000 (23,475 → 26,475)157.5C 10/23/26 -3,000 (10,000 → 7,000)

3,000 ct

SpreadMSTR

10/23/26 152.5/150 call spread · debit · resized

150C 10/23/26 -3,000 (9,900 → 6,900)152.5C 10/23/26 +3,000 (-5,000 → -2,000)

3,000 ct

SpreadMSTR

10/23/26 141/147 call spread · credit · resized

141C 10/23/26 +3,000 (-10,000 → -7,000)147C 10/23/26 -3,000 (10,000 → 7,000)

3,000 ct

Tue, Oct 20vs Mon, Oct 192 trades

SpreadMSTR

10/23/26 145/150 call spread · credit · resized

145C 10/23/26 -7,000 (-400 → -7,400)150C 10/23/26 +7,000 (2,900 → 9,900)

7,000 ct

SpreadMSTR

10/23/26 155/157.5 call spread · credit · resized

155C 10/23/26 +1,000 (22,475 → 23,475)157.5C 10/23/26 -1,000 (11,000 → 10,000)

1,000 ct

Mon, Oct 19vs Fri, Oct 1614 trades

FlippedMSTR

155C 10/23/26 · long

155C 10/23/26 +32,475 (-10,000 → 22,475)

32,475 ct

OpenedMSTR

148C 10/23/26 · written

148C 10/23/26 -17,335 (0 → -17,335)

17,335 ct

RollMSTR

165C 10/16/26147C 10/23/26· long

165C 10/16/26 -10,000 (10,000 → 0)147C 10/23/26 +10,000 (0 → 10,000)

10,000 ct

RollMSTR

157.5C 10/16/26141C 10/23/26· written

157.5C 10/16/26 +10,000 (-10,000 → 0)141C 10/23/26 -10,000 (0 → -10,000)

10,000 ct

ClosedMSTR

160C 10/23/26 · long

160C 10/23/26 -9,000 (9,000 → 0)

9,000 ct

OpenedMSTR

139C 10/23/26 · written

139C 10/23/26 -8,400 (0 → -8,400)

8,400 ct

SpreadMSTR

10/23/26 157.5/162.5 call spread · credit · resized

157.5C 10/23/26 +6,000 (5,000 → 11,000)162.5C 10/23/26 -6,000 (6,000 → 0)

6,000 ct

OpenedMSTR

142C 10/23/26 · written

142C 10/23/26 -6,140 (0 → -6,140)

6,140 ct

OpenedMSTR

144C 10/23/26 · long

144C 10/23/26 +5,900 (0 → 5,900)

5,900 ct

SpreadMSTR

10/23/26 146/152.5 call spread · credit · resized

146C 10/23/26 -5,000 (0 → -5,000)152.5C 10/23/26 +5,000 (-10,000 → -5,000)

5,000 ct

SpreadMSTR

10/16/26 155/162.5 call spread · credit · closed

155C 10/16/26 +4,500 (-4,500 → 0)162.5C 10/16/26 -4,500 (4,500 → 0)

4,500 ct

SpreadMSTR

10/16/26 160/167.5 call spread · credit · closed

160C 10/16/26 +3,667 (-3,667 → 0)167.5C 10/16/26 -3,667 (3,667 → 0)

3,667 ct

OpenedMSTR

150C 10/23/26 · long

150C 10/23/26 +2,900 (0 → 2,900)

2,900 ct

OpenedMSTR

145C 10/23/26 · written

145C 10/23/26 -400 (0 → -400)

400 ct

Fri, Oct 16vs Thu, Oct 1511 trades

ReducedMSTR

157.5C 10/16/26 · written

157.5C 10/16/26 +26,425 (-36,425 → -10,000)

26,425 ct

ReducedMSTR

162.5C 10/16/26 · long

162.5C 10/16/26 -14,500 (19,000 → 4,500)

14,500 ct

ReducedMSTR

165C 10/16/26 · long

165C 10/16/26 -13,925 (23,925 → 10,000)

13,925 ct

PairMSTR

152.5C 10/23/26 + 155C 10/23/26 · equal size, no standard shape

152.5C 10/23/26 -10,000 (0 → -10,000)155C 10/23/26 -10,000 (0 → -10,000)

10,000 ct

OpenedMSTR

160C 10/23/26 · long

160C 10/23/26 +9,000 (0 → 9,000)

9,000 ct

ReducedMSTR

167.5C 10/16/26 · long

167.5C 10/16/26 -7,473 (11,140 → 3,667)

7,473 ct

OpenedMSTR

162.5C 10/23/26 · long

162.5C 10/23/26 +6,000 (0 → 6,000)

6,000 ct

OpenedMSTR

157.5C 10/23/26 · long

157.5C 10/23/26 +5,000 (0 → 5,000)

5,000 ct

ReducedMSTR

160C 10/16/26 · written

160C 10/16/26 +4,473 (-8,140 → -3,667)

4,473 ct

ReducedMSTR

155C 10/16/26 · written

155C 10/16/26 +3,750 (-8,250 → -4,500)

3,750 ct

ExpiredMSTR

152.5C 10/16/26 · written

152.5C 10/16/26 +1,250 (-1,250 → 0)

1,250 ct

Thu, Oct 15vs Wed, Oct 144 trades

ReducedMSTR

165C 10/16/26 · long

165C 10/16/26 -14,400 (38,325 → 23,925)

14,400 ct

ReducedMSTR

160C 10/16/26 · written

160C 10/16/26 +11,400 (-19,540 → -8,140)

11,400 ct

AddedMSTR

162.5C 10/16/26 · long

162.5C 10/16/26 +5,000 (14,000 → 19,000)

5,000 ct

ClosedMSTR

170C 10/16/26 · long

170C 10/16/26 -2,000 (2,000 → 0)

2,000 ct

Wed, Oct 14vs Tue, Oct 131 trade

SpreadMSTR

10/16/26 152.5/155 call spread · credit · resized

152.5C 10/16/26 +1,250 (-2,500 → -1,250)155C 10/16/26 -1,250 (-7,000 → -8,250)

1,250 ct

Tue, Oct 13vs Mon, Oct 122 trades

RollMSTR

95.01P 10/16/26135.01P 11/20/26· written

95.01P 10/16/26 +900 (-900 → 0)FLEX135.01P 11/20/26 -900 (-40,450 → -41,350)FLEX

900 ct

RollMSTR

95C 10/16/26135C 11/20/26· long

95C 10/16/26 -900 (900 → 0)135C 11/20/26 +900 (40,450 → 41,350)

900 ct

Built from contract counts, not weights — a price move can't show up as a trade. Changes of equal size on the same stock are paired: a roll closes one expiry and opens the next, a synthetic (long call + written put at one strike) is stock exposure, not two bets. Negative = written.

Strategy Effectiveness

Analyzing option strategy effectiveness…