MSTR Options History — October 2008

In October 2008, MSTR traded between $3.87 and $5.69. ATM implied volatility averaged 79.0%, placing in the 72.4% IV rank vs the trailing year. The 30-day expected move averaged 23.3%. IV traded above realized volatility by 10.0% (HV 20d: 69.0%). Max pain ranged from $5.00 to $7.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 3 of 23 days. Put/call ratio averaged 3.09.

Notable Days

  • 2008-10-30: Highest Volume — 23,150 contracts
  • 2008-10-06: Largest IV spike — 19.8% change
  • 2008-10-27: Highest IV Rank — 91.5%
  • 2008-10-10: Largest Expected Move — 27.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.40$3.87$5.69$5.69$3.94
Max Pain$5.96$5.00$7.00$7.00$5.00
ATM IV79.0%58.3%90.8%59.4%71.1%
Expected Move23.3%16.7%27.1%17.0%20.4%
HV 20d69.0%45.6%88.9%45.6%88.9%
HV 60d50.4%38.0%60.5%38.0%60.5%
IV Rank72.4%39.2%91.5%40.9%59.8%
IV Percentile94.5%78.6%99.6%82.1%86.9%
Term Structure-10.7%-21.6%13.8%7.9%-1.7%
VWIV78.7%55.1%98.1%57.8%71.1%
Skew 25d12.4%3.1%20.1%10.3%12.7%
Skew 10d16.4%4.8%33.8%13.8%22.4%
Call IV 25d74.4%52.8%83.7%52.8%66.2%
Put IV 25d86.7%63.0%100.2%63.1%78.9%
Bid-Ask Spread %31.6817.7252.1122.2417.72
Gamma HHI0.300.100.560.340.26
Net GEX-207.8K-560.4K-37.3K-399.9K-92.4K
Net DEX19.7M7.4M32.9M21.8M10.4M
Net VEX-68.9K-130.8K-48.6K-130.8K-67.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.090.2712.028.030.82
Total Volume6,638.69646023,1502,71017,540
Total OI196,871.739141,950238,170233,580179,050

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-10-01$5.69$7.0059.4%17.0%45.6%40.9%57.8%10.3%7.9%-399.9K21.8M-130.8K8.0322.24N/AN/A3002,410131,570102,010
2008-10-02$5.42$7.0060.0%17.2%48.0%41.9%55.1%7.6%11.9%-505.6K24.2M-123.0K2.0422.56N/AN/A2,9105,930131,630101,580
2008-10-03$5.30$7.0058.3%16.7%48.0%39.2%61.6%7.5%13.8%-529.0K25.6M-115.4K1.2822.56N/AN/A1,5101,940132,520100,730
2008-10-06$4.96$6.5069.8%22.2%51.3%57.7%76.4%3.1%-15.8%-560.4K30.5M-96.4K2.0232.15N/AN/A1,1302,280132,670100,710
2008-10-07$4.70$6.5078.5%23.5%53.3%71.6%59.4%12.9%-20.9%-486.9K32.9M-83.4K10.1233.86N/AN/A1,51015,280132,980100,500
2008-10-08$4.53$6.5080.3%24.3%52.7%74.5%78.6%11.3%-19.4%-396.3K28.8M-76.5K2.1430.74N/AN/A1,2702,720133,07089,560
2008-10-09$4.19$6.5081.6%26.6%55.7%76.7%80.9%13.5%-21.6%-236.1K29.4M-62.3K0.6442.71N/AN/A1,8101,150132,97089,820
2008-10-10$4.08$6.5078.5%27.1%55.4%71.7%82.7%15.0%-21.1%-129.1K29.5M-55.5K1.1349.23N/AN/A7,3708,300134,14088,480
2008-10-13$4.58$6.5076.4%23.0%74.4%68.4%78.5%8.6%-13.4%-392.1K28.0M-70.0K0.6847.87N/AN/A5,2203,530140,20094,270
2008-10-14$4.44$6.0080.1%22.9%74.3%74.3%77.3%8.3%-12.7%-273.3K27.7M-69.7K2.0934.99N/AN/A2,4105,040143,59094,580
2008-10-15$4.02$6.0079.7%25.6%79.2%73.6%89.6%10.9%-17.5%-87.4K25.5M-54.9K3.9343.00N/AN/A5402,120144,13084,290
2008-10-16$4.04$6.0090.7%26.0%79.5%91.3%90.3%14.8%-20.1%-117.9K25.1M-51.8K1.4430.48N/AN/A1,2401,780144,36083,620
2008-10-17$4.13$6.0086.3%24.8%76.9%84.3%81.4%12.2%-16.2%-104.9K23.4M-53.2K0.2743.19N/AN/A1,680460145,03083,680
2008-10-20$4.21$5.5079.9%22.9%77.4%74.0%79.9%14.5%-9.3%-37.3K11.0M-50.8K12.0230.24N/AN/A4405,290100,12041,830
2008-10-21$4.12$5.5080.1%23.0%77.2%74.3%76.6%8.4%-9.8%-63.1K11.4M-51.8K0.3725.02N/AN/A680250100,46045,390
2008-10-22$4.01$5.5084.0%24.1%77.2%80.5%0.0%10.0%-12.2%-58.4K11.3M-49.4K6.6752.11N/AN/A60400100,92044,970
2008-10-23$4.06$5.5085.2%24.4%77.6%82.4%85.5%14.9%-8.7%-58.0K11.1M-51.7K0.7933.66N/AN/A5,1504,070100,98045,230
2008-10-24$4.06$5.5087.0%25.0%73.3%85.4%92.5%17.2%-9.7%-44.1K10.2M-54.2K1.9422.65N/AN/A1,1402,210105,91047,070
2008-10-27$3.87$5.5090.8%26.0%73.4%91.5%98.1%17.2%-13.0%-50.5K11.0M-48.6K4.0323.60N/AN/A7102,860106,41048,510
2008-10-28$4.22$5.0087.9%25.2%82.5%86.8%89.5%18.3%-12.1%-56.0K9.6M-54.6K6.4722.69N/AN/A3402,200107,03049,850
2008-10-29$4.19$5.0088.1%25.2%81.9%87.0%85.4%15.4%-13.6%-55.2K8.3M-54.2K0.9624.09N/AN/A2,2302,130107,21047,250
2008-10-30$4.36$5.0082.3%23.6%83.0%77.8%82.8%20.1%-9.9%-45.4K7.4M-59.8K1.3221.24N/AN/A9,98013,170108,35048,820
2008-10-31$3.94$5.0071.1%20.4%88.9%59.8%71.1%12.7%-1.7%-92.4K10.4M-67.3K0.8217.72N/AN/A9,6407,900117,72061,330