MSTR Options History — July 2009

In July 2009, MSTR traded between $4.93 and $6.09. ATM implied volatility averaged 41.4%, placing in the 17.6% IV rank vs the trailing year. The 30-day expected move averaged 12.7%. IV traded above realized volatility by 5.6% (HV 20d: 35.8%). Max pain ranged from $4.50 to $5.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.71.

Notable Days

  • 2009-07-31: Highest Volume — 107,000 contracts
  • 2009-07-31: Largest IV drop — 26.7% change
  • 2009-07-28: Highest IV Rank — 24.9%
  • 2009-07-07: Largest Expected Move — 14.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.46$4.93$6.09$5.09$6.09
Max Pain$5.00$4.50$5.50$4.50$5.50
ATM IV41.4%33.5%46.2%33.5%33.7%
Expected Move12.7%9.6%14.2%9.6%9.7%
HV 20d35.8%28.1%43.6%35.8%28.1%
HV 60d32.3%30.8%33.1%30.8%31.6%
IV Rank17.6%5.9%24.9%5.9%6.1%
IV Percentile28.3%4.8%45.6%4.8%5.6%
Term Structure-3.6%-7.2%11.0%10.4%1.0%
VWIV44.3%32.1%51.3%33.5%33.6%
Skew 25d5.5%3.2%11.7%4.9%3.2%
Skew 10d9.8%3.4%17.0%8.6%3.4%
Call IV 25d42.1%26.6%45.9%31.3%32.2%
Put IV 25d47.6%35.4%51.8%36.2%35.4%
Bid-Ask Spread %15.509.8147.2914.759.81
Gamma HHI0.300.190.520.210.27
Net GEX258.1K87.5K482.8K115.9K482.8K
Net DEX-21.4M-33.4M-11.4M-15.5M-33.4M
Net VEX-95.1K-102.5K-85.3K-85.3K-97.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.710.171.781.341.03
Total Volume12,220890107,0001,870107,000
Total OI182,807.273151,050207,500175,220195,870

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-07-01$5.09$4.5033.5%9.6%35.8%5.9%33.5%4.9%10.4%115.9K-15.5M-85.3K1.3414.75N/AN/A8001,070101,44073,780
2009-07-02$4.93$4.5034.0%9.8%37.8%6.6%32.1%11.7%11.0%87.5K-11.4M-85.3K0.6311.64N/AN/A7,0904,480101,71074,050
2009-07-06$5.18$5.0041.1%13.9%41.5%17.2%48.4%5.8%-5.1%151.1K-18.8M-92.6K0.4417.47N/AN/A10,1404,510106,23077,640
2009-07-07$5.09$5.0042.1%14.2%42.2%18.8%48.1%5.9%-5.6%149.6K-17.5M-100.0K0.2915.91N/AN/A7,0102,050112,40080,400
2009-07-08$5.12$5.0042.2%14.1%42.2%18.9%48.1%6.1%-5.4%206.5K-18.7M-102.5K0.4217.68N/AN/A5,0002,080117,22081,470
2009-07-09$5.10$5.0039.3%14.0%42.2%14.6%47.8%5.8%-4.9%194.6K-18.2M-102.5K0.7615.39N/AN/A1,6801,280118,64082,880
2009-07-10$5.11$5.0038.0%13.7%42.2%12.5%45.2%6.1%-5.1%201.8K-18.6M-101.8K0.2718.07N/AN/A3,140860119,30083,160
2009-07-13$5.29$5.0035.5%13.1%43.6%8.9%51.3%6.1%-4.7%286.4K-24.4M-97.5K1.0711.58N/AN/A4,1804,470120,12083,510
2009-07-14$5.28$5.0037.3%13.1%42.6%11.5%46.7%6.2%-5.2%268.3K-24.0M-97.1K1.1911.11N/AN/A2,9603,510120,09084,380
2009-07-15$5.31$5.0036.8%12.9%41.7%10.7%45.2%6.4%-4.5%306.3K-24.8M-99.3K1.7811.01N/AN/A320570121,57085,450
2009-07-16$5.38$5.0044.8%12.8%41.8%22.8%44.4%5.5%-4.5%369.2K-26.7M-97.5K0.4113.55N/AN/A1,400580121,66085,840
2009-07-17$5.39$5.0044.3%12.7%35.2%22.1%45.3%5.1%-4.5%287.8K-26.3M-95.1K1.3116.58N/AN/A1,0901,430120,51084,970
2009-07-20$5.45$5.0045.6%13.1%33.1%24.0%44.9%4.7%-4.4%215.9K-15.2M-93.3K0.1715.74N/AN/A1,84032091,86059,190
2009-07-21$5.55$5.0045.3%13.0%29.2%23.5%45.2%5.2%-5.6%229.3K-16.8M-91.3K0.5914.23N/AN/A6,1603,61092,48059,420
2009-07-22$5.61$5.0045.2%13.0%28.1%23.4%43.6%4.6%-5.2%256.6K-18.5M-94.9K0.8710.30N/AN/A1,8701,63096,33061,780
2009-07-23$5.82$5.0043.4%12.5%29.9%20.8%43.6%3.9%-5.8%273.8K-22.5M-90.0K0.6510.70N/AN/A6,0403,90096,62061,300
2009-07-24$5.90$5.0043.9%12.6%30.0%21.5%44.3%3.9%-5.8%289.7K-23.9M-90.8K0.5513.39N/AN/A7,9104,32098,75062,630
2009-07-27$5.81$5.0046.0%13.2%30.7%24.7%46.2%4.3%-6.6%303.6K-23.4M-93.1K0.2347.29N/AN/A2,050470103,10064,570
2009-07-28$5.86$5.0046.2%13.2%29.9%24.9%45.8%5.3%-7.2%320.8K-24.3M-92.4K0.2913.01N/AN/A1,560450103,67064,280
2009-07-29$5.85$5.0045.5%13.0%29.9%23.8%45.9%4.2%-5.4%329.5K-24.4M-92.2K0.7912.85N/AN/A13,00010,240104,23064,460
2009-07-30$5.86$5.5045.9%13.2%29.9%24.5%46.4%5.3%-5.7%352.3K-24.4M-100.3K0.6318.96N/AN/A15,2109,560112,51070,290
2009-07-31$6.09$5.5033.7%9.7%28.1%6.1%33.6%3.2%1.0%482.8K-33.4M-97.5K1.039.81N/AN/A52,71054,290120,44075,430