MSTR options projector

What is your MSTR position worth at any Bitcoin price?

Model your MSTR call option value across any Bitcoin scenario. Adjust BTC price, holdings, mNAV multiple, and time to expiration to see what your position could be worth.

Black-Scholes pricing mNAV-derived MSTR price Greeks included any strike / expiry built by a Bitcoiner
// options projector Black-Scholes · American-style approximation

Your position

Strike: $275 · Expiry: 12/15/2028
Strike price ($) $275
Time to expiry —

Bitcoin & MSTR fundamentals

Bitcoin price fetching… $105,000
BTC held by MSTR 843,706
Shares outstanding (millions) 310M

DEFAULTS LAST UPDATED: JUNE 5, 2026  ·  BTC HELD SOURCE: BITCOINTREASURIES.NET  ·  STRATEGY BUYS FREQUENTLY — VERIFY BEFORE SHARING

mNAV multiple 2.0×

Derived MSTR share price

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Volatility & rate

Implied volatility (IV) 90%
Risk-free rate 4.5%

Results

Intrinsic value / share

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Option price (B-S)

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Value per contract

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100 shares × option price

Total position value

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Greeks

Delta (Δ)

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per $1 move in MSTR

Theta (Θ)

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per day decay

Vega (ν)

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per 1% IV move

Gamma (Γ)

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delta change per $1

Quick scenarios

DISCLAIMER
This tool is for educational and informational purposes only. It uses the Black-Scholes model, which is designed for European-style options; MSTR calls are American-style, so actual market prices may differ slightly. MSTR price is derived from BTC holdings and a user-supplied mNAV multiple — this is a model assumption, not a prediction. Nothing here constitutes financial advice. Do your own research.