MSTR Options History — April 2007

In April 2007, MSTR traded between $11.38 and $12.70. ATM implied volatility averaged 35.4%. The 30-day expected move averaged 10.6%. IV traded above realized volatility by 9.6% (HV 20d: 25.8%). Max pain ranged from $12.00 to $13.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 1.42.

Notable Days

  • 2007-04-12: Highest Volume — 65,400 contracts
  • 2007-04-12: Largest IV spike — 46.8% change
  • 2007-04-30: Largest Expected Move — 12.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.96$11.38$12.70$12.64$11.38
Max Pain$12.68$12.00$13.00$12.00$12.50
ATM IV35.4%26.2%42.0%28.2%42.0%
Expected Move10.6%7.5%12.1%8.1%12.1%
HV 20d25.8%15.1%30.6%22.2%30.0%
HV 60d28.7%27.6%31.1%28.5%28.0%
Term Structure-3.4%-7.4%9.8%8.0%-7.4%
VWIV36.5%26.2%41.8%28.5%41.8%
Skew 25d3.8%2.4%4.7%2.4%3.3%
Skew 10d5.9%3.9%7.1%6.3%3.9%
Call IV 25d34.9%25.3%40.6%27.0%40.6%
Put IV 25d38.7%27.9%43.9%29.3%43.9%
Bid-Ask Spread %9.293.9513.997.518.92
Gamma HHI0.260.140.460.200.19
Net GEX-2.2M-5.3M-424.0K-567.4K-952.4K
Net DEX14.7M-34.1M56.6M-31.4M35.1M
Net VEX-258.3K-280.1K-229.2K-268.9K-273.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.420.323.901.100.56
Total Volume16,414.53,12065,4005,5406,800
Total OI261,069148,020333,000263,230195,460

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-04-02$12.64$12.0028.2%8.1%22.2%0.0%28.5%2.4%8.0%-567.4K-31.4M-268.9K1.107.51N/AN/A2,6402,900122,340140,890
2007-04-03$12.70$12.0027.1%7.8%20.6%0.0%27.5%2.9%8.2%-444.7K-34.1M-264.9K0.637.41N/AN/A1,9201,200123,430141,740
2007-04-04$12.60$12.0026.2%7.5%19.4%0.0%26.2%2.6%9.3%-855.4K-29.3M-258.4K1.4610.09N/AN/A2,6803,920124,250142,160
2007-04-05$12.41$12.0026.7%7.7%19.6%0.0%26.9%3.4%9.8%-1.6M-16.1M-264.4K2.779.14N/AN/A6,85018,970125,380143,960
2007-04-09$12.32$13.0029.1%11.0%19.7%0.0%37.9%4.0%-5.4%-2.5M-3.8M-266.8K2.304.85N/AN/A4,3009,910129,210156,370
2007-04-10$12.38$13.0028.4%11.0%18.1%0.0%38.3%3.9%-5.8%-2.4M-5.7M-273.6K1.573.95N/AN/A2,2803,580131,930163,150
2007-04-11$12.43$13.0026.5%10.5%15.1%0.0%35.8%4.1%-5.7%-2.5M-7.5M-264.9K0.655.64N/AN/A4,3802,850132,670164,650
2007-04-12$11.61$13.0038.9%11.2%28.5%0.0%37.1%4.4%-6.8%-4.1M53.5M-236.4K1.807.93N/AN/A23,34042,060134,820165,220
2007-04-13$11.57$13.0038.8%11.1%28.5%0.0%37.7%4.1%-7.3%-4.6M56.6M-246.4K0.767.51N/AN/A8,1006,120142,590176,460
2007-04-16$11.89$13.0038.0%10.9%30.4%0.0%38.5%4.5%-6.4%-4.7M26.2M-255.2K1.108.97N/AN/A12,10013,330146,670171,880
2007-04-17$11.65$13.0039.2%11.2%30.6%0.0%38.2%3.8%-7.1%-4.4M46.1M-245.3K0.839.09N/AN/A6,1705,110153,520176,760
2007-04-18$11.81$13.0038.5%11.0%30.1%0.0%38.6%4.5%-7.1%-4.9M29.3M-258.2K0.327.99N/AN/A7,4002,360155,820174,220
2007-04-19$11.82$13.0038.6%11.1%28.9%0.0%38.3%4.7%-7.1%-5.3M29.5M-252.7K1.339.37N/AN/A4,2905,690159,060173,940
2007-04-20$11.71$13.0039.3%11.3%28.9%0.0%38.4%4.2%-6.6%-487.4K40.1M-229.2K1.3011.85N/AN/A8,33010,840157,990167,890
2007-04-23$11.62$13.0040.6%11.6%28.9%0.0%40.0%4.7%-6.6%-424.0K21.1M-242.9K2.3313.21N/AN/A4,1809,74070,33077,690
2007-04-24$11.65$12.5040.9%11.7%29.0%0.0%39.2%4.2%-6.1%-563.7K21.8M-254.0K0.5712.22N/AN/A7,1404,04073,31084,400
2007-04-25$11.61$12.5040.9%11.7%29.0%0.0%40.5%3.0%-6.1%-529.0K21.2M-260.3K1.9913.23N/AN/A4,0308,02077,18085,850
2007-04-26$11.75$12.5040.4%11.6%29.5%0.0%39.1%3.9%-6.0%-523.6K17.2M-271.0K1.1713.99N/AN/A18,91022,18079,74090,370
2007-04-27$11.59$12.5040.2%11.5%29.6%0.0%40.7%3.0%-6.4%-687.9K25.0M-280.1K3.9012.95N/AN/A4,01015,62088,97099,110
2007-04-30$11.38$12.5042.0%12.1%30.0%0.0%41.8%3.3%-7.4%-952.4K35.1M-273.0K0.568.92N/AN/A4,3502,45090,540104,920