MSTR Options History — April 2009

In April 2009, MSTR traded between $3.61 and $4.00. ATM implied volatility averaged 49.5%, placing in the 25.0% IV rank vs the trailing year. The 30-day expected move averaged 14.9%. IV traded below realized volatility by 0.2% (HV 20d: 49.7%). Max pain ranged from $3.50 to $4.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 2.88.

Notable Days

  • 2009-04-20: Highest Volume — 52,350 contracts
  • 2009-04-09: Largest IV spike — 41.3% change
  • 2009-04-27: Highest IV Rank — 35.3%
  • 2009-04-27: Largest Expected Move — 16.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.87$3.61$4.00$3.61$3.89
Max Pain$3.83$3.50$4.00$4.00$4.00
ATM IV49.5%34.7%55.9%45.6%55.8%
Expected Move14.9%12.9%16.0%13.1%16.0%
HV 20d49.7%25.7%59.5%59.3%25.7%
HV 60d46.6%43.8%48.9%48.3%43.9%
IV Rank25.0%1.3%35.3%18.8%35.3%
IV Percentile46.5%0.4%63.9%40.9%63.9%
Term Structure-5.8%-11.0%9.2%9.2%-11.0%
VWIV51.4%37.7%56.5%45.5%56.3%
Skew 25d3.9%-0.2%10.2%10.2%-0.2%
Skew 10d9.7%-11.2%25.6%19.0%-11.2%
Call IV 25d50.4%39.1%56.3%39.6%56.3%
Put IV 25d54.3%45.0%56.8%49.7%56.1%
Bid-Ask Spread %16.157.3422.109.7015.18
Gamma HHI0.520.350.670.410.64
Net GEX-513.1K-1.8M-121.2K-184.1K-618.7K
Net DEX2.0M-2.2M5.6M4.7M2.2M
Net VEX-92.3K-100.9K-75.5K-75.5K-93.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.880.1416.054.310.37
Total Volume12,724.2861,05052,3505,89014,490
Total OI231,997.619172,760261,460185,890248,960

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-04-01$3.61$4.0045.6%13.1%59.3%18.8%45.5%10.2%9.2%-184.1K4.7M-75.5K4.319.70N/AN/A1,1104,780114,73071,160
2009-04-02$3.75$4.0045.1%12.9%59.4%17.9%44.7%5.9%8.8%-191.0K2.1M-79.6K9.217.34N/AN/A2,98027,450115,33072,730
2009-04-03$3.81$3.5034.7%14.4%59.5%1.3%52.9%7.4%-5.0%-390.6K2.2M-86.5K0.1422.10N/AN/A920130116,30095,230
2009-04-06$3.82$3.5037.3%14.4%57.5%5.5%52.0%5.1%-5.3%-372.5K1.9M-84.1K5.5021.43N/AN/A3,72020,470116,41095,200
2009-04-07$3.74$3.5041.1%15.2%55.9%11.6%50.2%5.4%-4.4%-559.4K5.6M-89.2K0.6519.82N/AN/A4,0502,620118,970111,910
2009-04-08$3.77$3.5036.4%14.8%55.7%4.1%54.2%6.2%-6.1%-545.3K4.9M-90.0K3.3119.52N/AN/A6,12020,270121,660113,440
2009-04-09$3.87$3.5051.5%14.8%54.2%28.2%51.1%4.3%-6.0%-535.8K2.8M-99.6K0.4218.73N/AN/A1,100460125,040130,570
2009-04-13$3.91$3.5053.8%15.4%54.2%31.9%52.5%3.8%-9.0%-457.3K879.1K-94.6K0.6913.03N/AN/A2,3801,640125,390130,640
2009-04-14$3.87$3.5053.5%15.3%53.8%31.5%52.6%3.2%-8.0%-451.8K2.4M-92.2K2.3915.96N/AN/A4,36010,430125,960131,500
2009-04-15$3.89$4.0052.4%15.0%53.7%29.7%48.8%3.0%-6.8%-390.6K2.4M-93.5K2.0918.54N/AN/A3,3807,050127,490133,970
2009-04-16$3.97$4.0051.7%14.8%53.6%28.7%49.3%3.9%-7.4%-603.1K-836.0K-90.9K1.3219.86N/AN/A6,7808,920124,320132,770
2009-04-17$4.00$4.0051.5%14.8%52.7%28.2%49.4%3.6%-7.7%-1.8M-2.2M-90.4K2.5321.24N/AN/A2,9107,350124,690132,530
2009-04-20$3.89$4.0052.8%15.1%53.7%30.3%55.1%3.2%-6.7%-121.2K-942.0K-86.1K16.0514.25N/AN/A3,07049,28093,45079,310
2009-04-21$3.93$4.0053.3%15.3%51.0%31.2%52.9%3.8%-7.1%-443.8K2.2M-100.9K1.0519.90N/AN/A4,8905,12094,850126,330
2009-04-22$3.90$4.0052.9%15.2%50.8%30.5%37.7%1.8%-7.2%-479.4K2.8M-100.7K1.0715.98N/AN/A88094097,030128,080
2009-04-23$3.93$4.0052.8%15.1%50.4%30.4%53.4%2.9%-7.7%-436.1K1.6M-99.1K1.3421.57N/AN/A8901,19097,670128,730
2009-04-24$3.94$4.0052.3%15.0%49.7%29.5%53.3%1.4%-6.8%-456.7K1.1M-98.5K3.9314.72N/AN/A4,93019,36098,310128,900
2009-04-27$3.88$4.0055.9%16.0%32.4%35.3%55.3%2.2%-10.0%-611.2K3.3M-98.5K1.848.29N/AN/A2,0803,820101,510144,690
2009-04-28$3.93$4.0055.1%15.8%30.7%34.2%55.5%0.4%-8.9%-586.4K1.9M-97.7K0.588.75N/AN/A1,560900102,290145,380
2009-04-29$3.96$4.0053.7%15.4%30.2%31.9%56.5%4.5%-9.0%-520.1K719.6K-96.9K1.6113.22N/AN/A9301,500103,140145,380
2009-04-30$3.89$4.0055.8%16.0%25.7%35.3%56.3%-0.2%-11.0%-618.7K2.2M-93.6K0.3715.18N/AN/A10,5603,930103,340145,620