MSTR Options History — July 2008

In July 2008, MSTR traded between $5.92 and $6.53. ATM implied volatility averaged 60.9%, placing in the 57.1% IV rank vs the trailing year. The 30-day expected move averaged 18.1%. IV traded above realized volatility by 27.1% (HV 20d: 33.8%). Max pain ranged from $6.50 to $7.50. Net GEX was positive for 4 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 1.47.

Notable Days

  • 2008-07-25: Highest Volume — 23,110 contracts
  • 2008-07-10: Largest IV spike — 44.0% change
  • 2008-07-31: Highest IV Rank — 99.4%
  • 2008-07-31: Largest Expected Move — 23.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.30$5.92$6.53$6.36$6.04
Max Pain$6.89$6.50$7.50$7.50$6.50
ATM IV60.9%40.3%83.4%41.5%83.4%
Expected Move18.1%11.5%23.9%11.9%23.9%
HV 20d33.8%30.2%38.7%32.3%34.8%
HV 60d49.5%30.7%54.3%54.3%30.7%
IV Rank57.1%20.8%99.4%26.1%99.4%
IV Percentile76.0%20.6%99.6%29.0%99.6%
Term Structure-10.4%-26.3%16.6%13.9%-26.3%
VWIV62.2%40.6%81.5%41.3%79.9%
Skew 25d6.9%3.0%10.9%4.0%6.7%
Skew 10d10.4%5.1%18.5%7.3%11.7%
Call IV 25d59.2%39.7%77.7%40.2%77.7%
Put IV 25d66.1%42.7%84.6%44.2%84.4%
Bid-Ask Spread %19.336.5637.619.7617.46
Gamma HHI0.160.090.260.130.25
Net GEX-123.1K-274.7K144.8K-270.4K-133.5K
Net DEX19.4M9.8M26.3M26.2M19.3M
Net VEX-185.3K-197.2K-168.0K-187.8K-196.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.470.086.070.600.32
Total Volume8,001.8181,57023,1105,4903,790
Total OI239,837.273180,530258,570253,740253,960

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-07-01$6.36$7.5041.5%11.9%32.3%26.1%41.3%4.0%13.9%-270.4K26.2M-187.8K0.609.76N/AN/A3,4402,050158,80094,940
2008-07-02$6.23$7.5042.0%12.0%32.4%26.9%40.6%3.0%16.6%-260.4K26.3M-179.0K0.487.50N/AN/A7,1203,420159,72092,630
2008-07-03$6.34$7.5040.3%11.5%30.3%23.3%40.7%3.7%15.7%-274.7K25.2M-185.5K0.416.56N/AN/A3,1701,290158,36093,560
2008-07-07$6.36$7.0044.0%16.6%30.2%29.6%57.6%6.7%-8.7%-260.2K23.9M-188.8K0.7718.87N/AN/A4,3003,300159,61093,970
2008-07-08$6.53$7.0040.9%16.6%32.6%22.5%55.3%7.8%-8.8%-259.9K21.4M-197.2K0.3113.27N/AN/A1,870580161,29095,140
2008-07-09$6.45$7.0040.7%16.7%32.6%20.8%59.3%6.8%-9.8%-239.3K21.4M-194.5K0.8025.34N/AN/A870700161,23094,510
2008-07-10$6.48$7.0058.6%16.8%32.6%53.6%58.6%6.5%-9.2%-229.4K20.8M-195.9K0.7629.30N/AN/A1,6801,270161,68094,230
2008-07-11$6.51$7.0060.3%17.3%32.5%53.0%58.8%6.9%-10.2%-226.3K20.4M-195.6K1.9236.50N/AN/A1,5402,960162,96094,550
2008-07-14$6.35$7.0063.3%18.2%32.4%59.1%60.2%7.1%-12.9%-215.5K23.3M-183.0K1.5734.86N/AN/A2,3103,630163,63094,940
2008-07-15$6.36$7.0063.9%18.3%32.6%60.4%64.4%7.4%-13.6%-189.2K20.4M-184.7K1.7733.02N/AN/A9701,720164,96090,850
2008-07-16$6.53$7.0062.7%18.0%34.6%57.8%61.9%7.5%-11.8%-138.7K14.9M-193.7K0.3418.70N/AN/A1,450500165,77088,500
2008-07-17$6.42$7.0062.2%17.8%34.7%56.8%62.8%5.9%-12.1%-147.2K18.3M-183.1K0.5022.85N/AN/A3,5701,770166,29088,730
2008-07-18$6.30$7.0061.8%17.7%34.7%56.1%61.2%6.2%-11.9%-57.1K20.5M-177.0K3.7237.61N/AN/A1,3705,100167,26089,010
2008-07-21$6.28$7.0062.3%17.9%34.0%57.0%61.9%7.3%-10.5%-29.6K14.9M-170.3K0.0817.83N/AN/A16,2201,230113,46067,070
2008-07-22$6.17$6.5067.3%19.3%31.9%67.0%63.6%7.6%-14.1%142.2K13.3M-169.8K3.1210.61N/AN/A1,8505,780127,97067,910
2008-07-23$6.47$6.5065.2%18.7%36.9%62.9%66.5%10.9%-13.2%144.8K9.8M-191.3K0.5411.00N/AN/A5,4402,930128,78071,430
2008-07-24$6.28$6.5065.8%18.9%36.5%64.0%67.3%6.7%-14.8%135.0K11.9M-183.4K0.7418.22N/AN/A5,0603,750131,60072,620
2008-07-25$6.19$6.5075.1%21.5%36.5%82.7%73.7%9.4%-21.1%119.7K13.1M-179.9K6.0714.31N/AN/A3,27019,840133,91074,010
2008-07-28$5.92$6.5077.7%22.3%38.7%88.0%74.9%8.3%-20.9%-114.0K21.8M-168.0K0.8715.64N/AN/A10,5709,200136,44090,340
2008-07-29$6.01$6.5080.4%23.0%35.4%93.4%77.2%7.6%-23.3%-58.5K19.1M-183.4K5.1911.22N/AN/A2,90015,050143,93096,270
2008-07-30$5.97$6.5081.0%23.2%35.1%94.7%81.5%8.5%-22.3%-145.3K21.2M-188.8K1.3814.83N/AN/A3,0304,180146,010103,590
2008-07-31$6.04$6.5083.4%23.9%34.8%99.4%79.9%6.7%-26.3%-133.5K19.3M-196.8K0.3217.46N/AN/A2,870920147,880106,080