MSTR Options History — December 2009

In December 2009, MSTR traded between $8.28 and $9.54. ATM implied volatility averaged 32.2%, placing in the 13.2% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded above realized volatility by 1.5% (HV 20d: 30.7%). Max pain ranged from $6.50 to $8.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 0.73.

Notable Days

  • 2009-12-18: Highest Volume — 31,460 contracts
  • 2009-12-10: Largest IV spike — 9.2% change
  • 2009-12-10: Highest IV Rank — 17.7%
  • 2009-12-09: Largest Expected Move — 10.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.97$8.28$9.54$8.95$9.40
Max Pain$6.86$6.50$8.50$8.50$7.00
ATM IV32.2%30.4%34.4%33.3%30.4%
Expected Move9.4%8.7%10.0%9.6%8.7%
HV 20d30.7%21.8%37.6%32.4%36.3%
HV 60d48.4%46.5%49.8%47.9%48.4%
IV Rank13.2%9.5%17.7%15.4%9.5%
IV Percentile16.0%6.0%28.2%19.0%6.0%
Term Structure4.6%2.1%7.4%2.1%7.4%
VWIV33.3%30.5%35.7%35.1%30.5%
Skew 25d1.7%0.3%3.4%2.1%0.4%
Skew 10d3.4%-0.6%5.5%4.8%-0.6%
Call IV 25d32.6%30.9%34.4%32.9%31.3%
Put IV 25d34.4%31.7%36.3%35.0%31.7%
Bid-Ask Spread %13.619.1137.3314.9113.21
Gamma HHI0.220.190.280.200.22
Net GEX997.5K440.9K1.3M1.0M1.3M
Net DEX-67.9M-85.5M-43.5M-70.8M-80.1M
Net VEX-167.6K-192.1K-144.5K-192.1K-144.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.730.103.550.820.81
Total Volume5,104.0911,34031,4604,0303,380
Total OI303,460.455287,450311,650306,110297,730

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-12-01$8.95$8.5033.3%9.6%32.4%15.4%35.1%2.1%2.1%1.0M-70.8M-192.1K0.8214.91N/AN/A2,2201,810157,670148,440
2009-12-02$8.94$8.5032.4%9.3%32.1%13.7%32.6%2.8%2.5%1.1M-69.5M-187.6K0.4216.17N/AN/A2,9201,240155,920148,100
2009-12-03$8.84$8.5032.3%9.2%32.4%13.4%32.2%3.4%2.8%973.1K-64.8M-189.2K0.1419.79N/AN/A3,090440156,190148,260
2009-12-04$8.98$6.5030.9%9.9%32.8%10.6%35.7%2.3%3.5%1.1M-70.1M-187.6K3.5512.32N/AN/A7702,730158,010148,310
2009-12-07$8.91$6.5031.7%9.9%32.9%12.2%34.8%1.8%3.3%1.0M-67.3M-182.0K0.8511.65N/AN/A1,4801,260157,850150,170
2009-12-08$8.80$6.5031.1%9.9%26.7%11.0%34.6%2.2%3.5%958.5K-63.6M-178.5K0.3813.35N/AN/A1,460550157,940150,670
2009-12-09$8.64$6.5031.5%10.0%25.3%11.8%35.0%1.6%3.6%808.4K-57.0M-179.0K0.4011.97N/AN/A1,340530157,960150,590
2009-12-10$8.69$6.5034.4%9.9%23.0%17.7%35.5%2.3%4.2%854.1K-59.3M-173.7K0.6511.88N/AN/A810530158,520150,540
2009-12-11$8.71$6.5033.2%9.5%22.4%15.3%33.1%2.0%4.9%841.3K-60.3M-170.7K0.4913.29N/AN/A920450158,810150,850
2009-12-14$8.82$6.5033.2%9.5%22.8%15.3%34.0%2.5%4.2%968.7K-64.2M-165.8K1.0711.50N/AN/A1,3401,440158,930150,940
2009-12-15$8.80$6.5032.8%9.4%21.8%14.5%33.5%1.4%4.9%966.9K-64.2M-161.8K0.1914.06N/AN/A3,720700158,480150,480
2009-12-16$8.63$6.5033.5%9.6%22.7%16.0%34.5%2.0%4.5%653.9K-56.7M-161.0K1.3210.58N/AN/A1,9802,610157,290150,760
2009-12-17$8.28$6.5033.2%9.5%26.0%15.3%34.4%2.7%4.7%440.9K-43.5M-162.8K0.9212.31N/AN/A3,6103,310158,130152,720
2009-12-18$8.82$6.5033.0%9.5%34.1%15.0%34.0%1.6%3.4%948.3K-63.9M-156.8K0.7437.33N/AN/A18,03013,430158,880152,770
2009-12-21$8.88$6.5032.0%9.2%34.1%12.9%32.7%2.2%5.6%874.7K-63.1M-162.2K0.6011.39N/AN/A5,7103,410144,180143,270
2009-12-22$8.93$6.5032.4%9.3%33.3%13.6%32.7%0.3%5.9%925.0K-65.3M-166.5K0.289.11N/AN/A2,440690147,590145,990
2009-12-23$9.37$6.5030.7%8.8%37.2%10.1%31.3%0.9%5.9%1.2M-79.9M-158.4K0.459.27N/AN/A8,6903,930148,830146,230
2009-12-24$9.54$7.0031.0%8.9%37.6%10.7%31.0%0.9%6.3%1.3M-85.5M-156.1K0.1410.34N/AN/A2,840390150,370147,060
2009-12-28$9.46$6.5032.5%9.3%36.7%13.9%32.2%1.1%5.1%1.2M-83.1M-150.8K0.1012.31N/AN/A1,880190149,860146,870
2009-12-29$9.49$7.0031.6%9.1%36.6%12.0%32.1%1.1%6.6%1.2M-83.0M-150.1K0.6812.01N/AN/A920630150,130147,080
2009-12-30$9.37$7.0031.2%9.0%36.4%11.3%31.7%0.9%6.3%1.2M-78.7M-150.4K1.1510.76N/AN/A1,1501,320149,600147,160
2009-12-31$9.40$7.0030.4%8.7%36.3%9.5%30.5%0.4%7.4%1.3M-80.1M-144.5K0.8113.21N/AN/A1,8701,510149,910147,820