MSTR Options History — August 2008

In August 2008, MSTR traded between $5.87 and $6.68. ATM implied volatility averaged 47.5%, placing in the 22.6% IV rank vs the trailing year. The 30-day expected move averaged 12.9%. IV traded above realized volatility by 10.4% (HV 20d: 37.2%). Max pain ranged from $6.00 to $6.50. Net GEX was positive for 5 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 1.77.

Notable Days

  • 2008-08-05: Highest Volume — 49,280 contracts
  • 2008-08-05: Largest IV drop — 45.4% change
  • 2008-08-01: Highest IV Rank — 100.0%
  • 2008-08-01: Largest Expected Move — 25.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.38$5.87$6.68$6.06$6.42
Max Pain$6.48$6.00$6.50$6.50$6.50
ATM IV47.5%38.0%96.1%87.1%38.0%
Expected Move12.9%10.9%25.0%25.0%10.9%
HV 20d37.2%33.1%41.3%34.1%34.9%
HV 60d33.3%30.7%34.6%30.7%33.8%
IV Rank22.6%6.6%100.0%100.0%6.6%
IV Percentile35.2%5.6%100.0%100.0%5.6%
Term Structure-1.1%-27.8%1.5%-27.8%1.4%
VWIV45.7%37.8%85.5%85.5%40.4%
Skew 25d6.6%4.6%9.4%9.4%5.4%
Skew 10d12.7%10.0%17.1%14.3%11.8%
Call IV 25d41.9%36.1%77.7%77.7%36.8%
Put IV 25d48.5%42.0%87.1%87.1%42.2%
Bid-Ask Spread %19.4813.9527.0615.0925.33
Gamma HHI0.240.120.490.250.15
Net GEX-65.8K-589.5K985.5K-125.2K-173.1K
Net DEX13.8M4.2M30.8M19.3M14.3M
Net VEX-191.9K-208.0K-168.2K-195.0K-175.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.770.197.522.191.40
Total Volume8,8101,28049,28014,2701,990
Total OI267,411.905232,470310,010254,180244,470

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-08-01$6.06$6.5087.1%25.0%34.1%100.0%85.5%9.4%-27.8%-125.2K19.3M-195.0K2.1915.09N/AN/A4,4709,800148,230105,950
2008-08-04$6.01$6.5096.1%17.6%34.1%100.0%62.3%7.0%-5.4%-187.8K21.3M-196.8K0.8713.95N/AN/A5,9505,170151,040112,910
2008-08-05$5.87$6.5052.5%13.9%33.1%29.9%49.3%6.6%0.4%-589.5K30.8M-168.2K4.7819.65N/AN/A8,52040,760151,790115,570
2008-08-06$6.20$6.0051.1%13.6%39.1%27.7%46.5%7.5%-0.1%-323.2K18.7M-182.2K1.1716.33N/AN/A11,28013,190154,160117,080
2008-08-07$6.18$6.5048.3%13.5%39.0%23.1%46.5%6.0%0.2%-521.9K21.3M-207.6K0.2515.13N/AN/A6,7401,710160,610147,940
2008-08-08$6.26$6.5039.4%12.5%39.2%8.8%47.5%7.2%-0.1%-321.9K18.1M-208.0K0.6419.73N/AN/A3,9102,520162,000148,010
2008-08-11$6.53$6.5047.7%12.6%41.3%22.2%43.6%6.1%-0.8%171.8K7.1M-207.0K0.5827.06N/AN/A7,1204,150159,090148,520
2008-08-12$6.56$6.5046.9%12.2%41.3%21.0%43.3%8.8%-0.1%318.3K6.3M-204.4K5.7816.57N/AN/A9505,490159,760148,630
2008-08-13$6.50$6.5045.1%12.0%40.4%18.0%42.5%7.8%0.2%176.9K10.1M-201.1K1.4223.50N/AN/A2,5703,660155,800150,460
2008-08-14$6.46$6.5041.3%11.8%40.0%11.8%43.6%7.2%0.3%382.7K11.5M-195.1K1.0315.34N/AN/A2,2002,260155,880151,470
2008-08-15$6.59$6.5040.6%11.6%40.0%10.7%40.1%6.5%1.4%985.5K4.2M-195.5K1.4321.93N/AN/A3,9005,570156,150150,980
2008-08-18$6.53$6.5041.1%11.8%40.1%11.5%42.4%6.9%0.5%-147.8K11.7M-189.2K0.5521.39N/AN/A2,4101,330125,470107,000
2008-08-19$6.47$6.5040.8%11.7%39.7%11.1%40.6%8.2%0.9%-165.1K13.2M-185.8K0.7418.19N/AN/A2,4901,840126,680107,670
2008-08-20$6.41$6.5040.9%11.7%36.1%11.3%41.2%4.6%-0.2%-175.1K12.9M-188.6K0.3716.88N/AN/A4,9801,830127,980108,020
2008-08-21$6.42$6.5040.8%11.7%34.5%11.0%40.2%5.3%0.8%-142.8K12.8M-188.6K0.7216.91N/AN/A2,8002,030131,080109,170
2008-08-22$6.68$6.5040.1%11.5%36.6%10.0%40.4%5.7%0.7%-31.1K7.1M-200.2K7.5218.43N/AN/A3302,480132,420110,250
2008-08-25$6.49$6.5041.4%11.9%34.1%12.0%42.4%6.1%0.6%-117.7K11.7M-191.4K1.4121.28N/AN/A680960132,310110,920
2008-08-26$6.41$6.5040.3%11.5%34.3%10.2%40.3%5.6%1.0%-164.3K13.9M-183.3K0.1921.85N/AN/A1,080200132,200111,230
2008-08-27$6.51$6.5040.4%11.6%34.4%10.4%43.5%5.1%0.8%-111.3K11.2M-184.9K1.2020.37N/AN/A1,1201,340131,990111,060
2008-08-28$6.50$6.5038.6%11.1%34.4%7.6%37.8%5.9%1.5%-118.4K12.0M-181.1K2.9424.18N/AN/A8202,410132,330111,370
2008-08-29$6.42$6.5038.0%10.9%34.9%6.6%40.4%5.4%1.4%-173.1K14.3M-175.5K1.4025.33N/AN/A8301,160132,290112,180