MSTR Options History — February 2008

In February 2008, MSTR traded between $6.65 and $7.24. ATM implied volatility averaged 47.0%, placing in the 37.3% IV rank vs the trailing year. The 30-day expected move averaged 13.4%. IV traded above realized volatility by 9.4% (HV 20d: 37.6%). Max pain ranged from $7.00 to $8.00. Net GEX was positive for 8 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.89.

Notable Days

  • 2008-02-19: Highest Volume — 105,090 contracts
  • 2008-02-04: Largest IV drop — 19.6% change
  • 2008-02-01: Highest IV Rank — 69.8%
  • 2008-02-01: Largest Expected Move — 18.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.82$6.65$7.24$7.24$6.65
Max Pain$7.05$7.00$8.00$8.00$7.00
ATM IV47.0%40.6%66.0%66.0%42.9%
Expected Move13.4%11.6%18.9%18.9%12.3%
HV 20d37.6%31.3%43.0%42.8%37.1%
HV 60d42.1%39.6%45.8%45.8%40.4%
IV Rank37.3%26.3%69.8%69.8%30.3%
IV Percentile62.6%39.7%94.0%94.0%51.2%
Term Structure1.1%-9.8%3.5%-9.8%3.2%
VWIV46.5%40.2%64.6%64.6%40.8%
Skew 25d5.3%4.3%6.2%5.8%4.8%
Skew 10d9.8%8.4%12.5%12.5%8.9%
Call IV 25d44.4%38.1%63.4%63.4%40.1%
Put IV 25d49.8%43.1%69.2%69.2%44.9%
Bid-Ask Spread %16.3112.0021.6114.7718.26
Gamma HHI0.420.100.730.180.35
Net GEX-235.1K-2.3M1.5M-67.6K404.1K
Net DEX23.5M-8.8M46.6M30.2M13.9M
Net VEX-332.0K-440.4K-288.6K-352.1K-341.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.890.072.890.880.07
Total Volume24,460.55,060105,09016,1906,050
Total OI402,541.5281,510470,320380,260399,400

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-02-01$7.24$8.0066.0%18.9%42.8%69.8%64.6%5.8%-9.8%-67.6K30.2M-352.1K0.8814.77N/AN/A8,6007,590210,730169,530
2008-02-04$6.85$7.0053.1%14.2%43.0%47.8%50.5%5.3%-0.5%-720.5K46.6M-291.1K2.0015.91N/AN/A27,78055,480213,070170,720
2008-02-05$6.68$7.0055.5%14.9%42.8%52.0%50.4%5.5%-0.3%-937.2K45.1M-294.1K1.6816.22N/AN/A15,35025,860225,230172,460
2008-02-06$6.67$7.0054.5%14.7%41.2%50.2%51.7%5.5%-0.2%-975.5K42.2M-297.2K2.8915.28N/AN/A2,4006,940228,270172,630
2008-02-07$6.84$7.0048.8%14.1%42.7%40.5%49.5%6.0%0.4%-818.0K34.9M-308.6K0.5615.45N/AN/A9,4205,280229,290172,600
2008-02-08$6.71$7.0048.6%14.5%41.0%40.2%49.5%5.2%-0.1%-1.2M41.7M-299.0K0.2517.17N/AN/A10,3902,600231,360174,410
2008-02-11$6.73$7.0053.0%14.5%38.6%47.6%49.0%5.4%-0.3%-1.2M38.5M-297.5K0.7012.00N/AN/A14,66010,270236,160174,170
2008-02-12$6.76$7.0046.1%13.5%35.8%35.8%47.4%6.2%1.1%-1.3M37.2M-299.6K1.3317.05N/AN/A11,14014,840240,690177,590
2008-02-13$6.87$7.0041.2%13.3%36.0%27.5%46.0%5.8%1.6%-953.6K31.6M-310.3K0.2915.25N/AN/A10,7603,170245,470182,520
2008-02-14$6.79$7.0046.3%13.3%36.1%36.2%47.5%5.4%2.1%-1.1M32.4M-305.0K0.7920.13N/AN/A18,85014,940250,260181,100
2008-02-15$6.66$7.0048.6%13.9%31.7%40.1%46.6%5.9%0.7%-2.3M35.4M-299.5K0.5315.89N/AN/A3,5901,920255,340181,760
2008-02-19$6.71$7.0045.5%13.0%31.3%34.8%44.8%5.3%1.6%-135.3K22.2M-288.6K0.5412.95N/AN/A68,04037,050161,640119,870
2008-02-20$6.98$7.0041.8%12.0%34.6%28.6%43.1%4.3%2.9%1.5M-8.8M-440.4K1.0614.23N/AN/A14,72015,600286,070178,960
2008-02-21$6.77$7.0041.3%11.9%36.2%27.8%41.3%4.6%3.5%1.1M4.1M-415.8K0.5317.31N/AN/A12,3406,580291,320179,000
2008-02-22$6.73$7.0043.0%12.3%34.6%30.6%40.2%5.4%2.9%460.8K15.2M-355.3K0.4514.94N/AN/A4,3501,950235,500152,880
2008-02-25$6.88$7.0041.2%11.8%35.8%27.5%40.7%4.8%3.4%717.8K5.3M-357.5K0.4012.62N/AN/A3,9201,560236,590147,990
2008-02-26$7.05$7.0040.8%11.7%36.8%26.7%42.4%5.1%3.5%1.1M-4.5M-373.7K1.5520.52N/AN/A3,1404,860238,220148,910
2008-02-27$7.01$7.0040.6%11.6%36.5%26.3%43.2%5.0%3.4%1.0M-2.6M-368.7K1.0821.61N/AN/A2,4302,630239,560149,230
2008-02-28$6.78$7.0040.8%11.7%37.7%26.7%41.2%5.5%3.3%566.2K10.2M-345.6K0.2318.74N/AN/A18,0704,090241,040149,290
2008-02-29$6.65$7.0042.9%12.3%37.1%30.3%40.8%4.8%3.2%404.1K13.9M-341.0K0.0718.26N/AN/A5,640410248,780150,620