MSTR Options History — August 2007

In August 2007, MSTR traded between $6.45 and $7.61. ATM implied volatility averaged 45.1%, placing in the 66.9% IV rank vs the trailing year. The 30-day expected move averaged 12.6%. IV traded below realized volatility by 11.2% (HV 20d: 56.3%). Max pain ranged from $7.00 to $8.50. Net GEX was positive for 16 of 23 trading days. Term structure was in contango for 7 of 23 days. Put/call ratio averaged 0.91.

Notable Days

  • 2007-08-10: Highest Volume — 110,230 contracts
  • 2007-08-09: Largest IV spike — 19.4% change
  • 2007-08-13: Highest IV Rank — 100.0%
  • 2007-08-16: Largest Expected Move — 14.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.97$6.45$7.61$7.22$6.92
Max Pain$7.35$7.00$8.50$8.50$7.00
ATM IV45.1%35.2%57.3%38.7%44.8%
Expected Move12.6%10.1%14.6%11.1%12.8%
HV 20d56.3%45.7%66.0%54.2%48.7%
HV 60d39.7%35.7%43.4%42.7%43.4%
IV Rank66.9%39.9%100.0%53.7%61.1%
IV Percentile88.4%68.7%100.0%75.9%88.6%
Term Structure-0.2%-2.5%2.0%0.3%-0.9%
VWIV44.6%36.4%51.3%40.5%45.2%
Skew 25d2.0%-0.3%4.3%0.2%1.1%
Skew 10d3.2%-3.2%7.9%0.0%2.1%
Call IV 25d43.7%37.1%50.2%40.2%44.7%
Put IV 25d45.7%36.8%52.7%40.4%45.8%
Bid-Ask Spread %14.149.8118.3715.2616.27
Gamma HHI0.160.090.260.220.19
Net GEX209.6K-340.6K640.2K-210.5K594.4K
Net DEX7.8M-19.7M38.3M36.0M-3.8M
Net VEX-217.7K-256.4K-156.5K-198.7K-235.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.910.152.430.630.77
Total Volume26,226.5226,490110,23023,97013,930
Total OI277,878.696218,460350,750268,480271,050

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-08-01$7.22$8.5038.7%11.1%54.2%53.7%40.5%0.2%0.3%-210.5K36.0M-198.7K0.6315.26N/AN/A14,7309,240174,02094,460
2007-08-02$7.14$8.5035.7%10.2%52.9%42.1%36.4%-0.3%1.5%-216.7K35.9M-193.4K2.3314.03N/AN/A4,90011,410177,95094,540
2007-08-03$6.93$8.5035.2%10.1%52.7%39.9%37.9%0.0%2.0%-245.5K38.3M-174.6K0.9415.07N/AN/A7,0706,620180,19092,630
2007-08-06$6.75$8.0041.5%11.4%52.3%65.0%40.6%3.6%-0.3%-264.3K37.6M-166.5K1.8611.55N/AN/A10,29019,130183,95092,290
2007-08-07$6.64$8.0039.2%11.5%51.8%55.7%40.3%3.7%-0.0%-340.6K35.8M-163.7K2.4313.01N/AN/A6,95016,920187,12090,840
2007-08-08$6.59$8.0040.1%11.5%51.3%59.2%40.9%4.3%0.6%-271.0K31.9M-156.5K1.0312.90N/AN/A21,36021,930190,13083,270
2007-08-09$6.45$7.5047.8%13.0%51.1%89.9%45.1%1.7%-1.4%-141.9K27.4M-164.2K0.4116.06N/AN/A49,99020,620198,79082,680
2007-08-10$7.01$7.0049.5%13.3%63.0%96.5%47.2%1.4%-1.0%471.7K1.4M-230.1K0.4818.37N/AN/A74,41035,820230,92089,440
2007-08-13$6.99$7.0057.3%13.6%63.1%100.0%48.0%0.8%-1.2%525.3K-2.4M-246.9K0.4616.70N/AN/A32,91015,230248,43097,630
2007-08-14$6.99$7.0054.7%13.7%63.3%91.8%48.0%1.5%-0.7%473.5K-1.9M-247.8K0.8118.12N/AN/A12,0009,690251,19099,560
2007-08-15$7.05$7.0050.4%14.0%63.6%78.5%49.2%2.1%-0.2%340.0K-3.2M-243.8K1.2518.00N/AN/A9,76012,240245,91097,730
2007-08-16$6.90$7.0050.9%14.6%63.5%80.1%51.3%2.6%-0.9%224.2K2.5M-238.1K1.1913.87N/AN/A5,2606,260247,12098,370
2007-08-17$7.00$7.0049.0%14.1%64.0%74.3%49.5%3.6%-0.2%330.6K-1.7M-236.7K1.349.81N/AN/A8,35011,220245,28098,000
2007-08-20$7.07$7.0048.1%13.8%64.3%71.5%48.6%2.3%-0.1%259.9K-4.5M-232.8K0.9611.25N/AN/A6,3806,130154,62063,840
2007-08-21$7.00$7.0044.7%12.8%63.8%61.0%45.6%4.0%1.5%213.2K-2.3M-226.6K0.629.83N/AN/A5,8303,620155,83065,640
2007-08-22$6.96$7.0043.7%12.5%63.8%57.7%43.8%3.4%1.6%218.8K-1.5M-222.9K0.7313.46N/AN/A3,7602,730158,86066,250
2007-08-23$7.24$7.0042.9%12.3%66.0%55.2%42.3%1.5%0.3%313.9K-8.6M-237.6K0.2514.97N/AN/A15,1003,780160,43067,840
2007-08-24$7.61$7.0042.1%12.1%45.7%52.8%41.8%3.3%-0.2%561.6K-19.7M-256.4K0.1514.03N/AN/A20,4403,080165,80068,230
2007-08-27$7.33$7.0043.6%12.5%47.4%57.6%44.4%2.1%-0.6%640.2K-14.1M-248.7K0.6813.28N/AN/A5,7303,920175,39068,990
2007-08-28$6.99$7.0046.1%13.2%49.1%65.3%45.9%0.9%-2.5%456.4K-4.2M-228.8K0.6916.23N/AN/A13,4309,270176,64070,440
2007-08-29$6.83$7.0046.4%13.3%49.5%66.3%46.7%1.4%-1.6%414.8K133.0K-229.2K0.3311.42N/AN/A13,3804,460185,08075,820
2007-08-30$6.82$7.0045.3%13.0%49.4%62.9%45.8%0.3%-0.9%472.2K321.4K-228.8K0.4711.68N/AN/A9,4604,470191,39076,630
2007-08-31$6.92$7.0044.8%12.8%48.7%61.1%45.2%1.1%-0.9%594.4K-3.8M-235.2K0.7716.27N/AN/A7,8606,070193,50077,550