MSTR Options History — April 2008

In April 2008, MSTR traded between $7.48 and $8.98. ATM implied volatility averaged 54.5%, placing in the 50.2% IV rank vs the trailing year. The 30-day expected move averaged 16.5%. IV traded above realized volatility by 13.8% (HV 20d: 40.8%). Max pain ranged from $7.50 to $7.50. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 1.43.

Notable Days

  • 2008-04-21: Highest Volume — 30,200 contracts
  • 2008-04-10: Largest IV spike — 31.4% change
  • 2008-04-14: Highest IV Rank — 66.8%
  • 2008-04-14: Largest Expected Move — 18.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.18$7.48$8.98$7.67$8.87
Max Pain$7.50$7.50$7.50$7.50$7.50
ATM IV54.5%41.1%64.3%44.5%63.1%
Expected Move16.5%11.8%18.4%12.8%18.1%
HV 20d40.8%34.8%44.8%35.3%40.5%
HV 60d37.9%36.4%39.7%39.7%36.4%
IV Rank50.2%27.2%66.8%33.0%64.8%
IV Percentile76.4%34.1%93.7%52.0%93.3%
Term Structure-7.7%-14.9%17.8%15.8%-14.9%
VWIV58.4%43.1%65.1%46.2%62.9%
Skew 25d5.3%3.2%6.6%5.0%5.0%
Skew 10d10.2%7.3%13.3%9.7%9.6%
Call IV 25d55.5%41.3%62.3%42.5%61.1%
Put IV 25d60.8%44.7%67.4%47.5%66.1%
Bid-Ask Spread %14.189.7119.969.7114.24
Gamma HHI0.210.070.400.310.09
Net GEX795.1K-117.7K1.7M1.0M337.7K
Net DEX-34.2M-67.4M-12.2M-25.2M-32.7M
Net VEX-374.2K-414.1K-355.2K-372.7K-414.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.430.473.071.340.98
Total Volume12,946.8183,63030,20015,6607,210
Total OI332,131.364230,590407,730346,530283,980

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-04-01$7.67$7.5044.5%12.8%35.3%33.0%46.2%5.0%15.8%1.0M-25.2M-372.7K1.349.71N/AN/A6,6908,970218,550127,980
2008-04-02$7.58$7.5044.2%12.7%35.8%32.5%43.9%5.4%15.8%933.9K-20.0M-373.1K2.5014.27N/AN/A1,9804,950218,970133,060
2008-04-03$7.80$7.5041.1%11.8%36.6%27.2%43.1%3.2%17.8%1.0M-31.4M-375.2K0.5510.00N/AN/A7,7204,250219,210132,640
2008-04-04$8.03$7.5042.3%16.9%34.8%29.2%58.8%6.1%-10.9%1.1M-44.3M-380.8K0.5214.81N/AN/A11,1605,820222,370134,720
2008-04-07$7.84$7.5043.2%17.2%37.0%30.7%61.8%5.7%-11.6%1.2M-35.0M-375.5K1.1417.29N/AN/A4,6505,320229,350137,780
2008-04-08$7.99$7.5042.4%17.1%37.1%29.4%60.1%6.0%-11.5%1.2M-42.9M-380.3K2.1912.83N/AN/A2,2604,960230,590140,050
2008-04-09$7.64$7.5045.5%17.7%40.6%34.8%60.9%6.6%-11.9%1.2M-22.6M-365.9K1.1811.83N/AN/A5,3406,320231,170141,010
2008-04-10$7.80$7.5059.8%17.2%40.8%59.2%61.5%5.3%-12.2%1.3M-32.1M-368.2K1.2016.91N/AN/A5,1206,150232,070143,020
2008-04-11$7.48$7.5062.4%17.9%43.6%63.6%61.5%5.0%-13.2%1.2M-12.2M-358.8K0.5515.23N/AN/A7,8904,350233,880147,250
2008-04-14$7.58$7.5064.3%18.4%43.1%66.8%65.1%5.1%-14.2%1.5M-19.6M-355.2K1.1612.70N/AN/A6,3607,380236,180148,160
2008-04-15$7.76$7.5060.8%17.4%43.5%60.9%62.9%5.7%-12.5%1.7M-33.6M-357.1K2.7815.39N/AN/A5,25014,620237,380150,450
2008-04-16$8.11$7.5060.4%17.3%43.7%60.1%60.3%5.5%-12.0%386.3K-53.4M-365.1K1.4313.96N/AN/A8,33011,930238,250161,510
2008-04-17$8.08$7.5060.5%17.3%43.0%60.2%60.8%5.3%-12.1%-117.7K-50.9M-361.3K0.7219.96N/AN/A3,6702,650240,390165,330
2008-04-18$8.42$7.5057.2%16.4%43.6%54.7%57.8%5.6%-10.7%573.5K-67.4M-365.9K1.6616.60N/AN/A5,7509,530240,580167,150
2008-04-21$8.63$7.5058.1%16.7%43.8%56.3%60.8%5.1%-9.8%467.7K-30.5M-367.4K3.0711.24N/AN/A7,42022,780136,78093,810
2008-04-22$8.48$7.5058.1%16.7%44.3%56.2%59.0%4.7%-8.9%436.9K-27.1M-361.6K1.9415.10N/AN/A1,7703,440136,78093,810
2008-04-23$8.74$7.5058.8%16.8%44.8%57.4%58.3%4.6%-10.5%317.7K-30.9M-383.2K0.8613.80N/AN/A1,9501,680139,380111,830
2008-04-24$8.72$7.5058.2%16.7%41.8%56.4%57.3%4.4%-9.7%327.4K-30.5M-380.5K0.4714.79N/AN/A7,2503,380140,180112,750
2008-04-25$8.79$7.5056.3%16.1%41.4%53.1%57.8%5.0%-8.9%426.5K-33.7M-385.5K1.8711.50N/AN/A1,7503,270144,870114,380
2008-04-28$8.98$7.5059.3%17.0%41.6%58.2%60.5%6.6%-11.4%473.6K-39.2M-378.3K1.2414.89N/AN/A11,43014,210145,440116,590
2008-04-29$8.97$7.5059.6%17.1%40.5%58.8%62.4%6.5%-12.5%423.7K-37.6M-407.1K2.0114.82N/AN/A5,95011,970151,960125,300
2008-04-30$8.87$7.5063.1%18.1%40.5%64.8%62.9%5.0%-14.9%337.7K-32.7M-414.1K0.9814.24N/AN/A3,6403,570153,610130,370