MSTR Options History — April 2018

In April 2018, MSTR traded between $12.58 and $13.49. ATM implied volatility averaged 36.0%, placing in the 48.9% IV rank vs the trailing year. The 30-day expected move averaged 10.8%. IV traded above realized volatility by 17.7% (HV 20d: 18.3%). Max pain ranged from $11.50 to $13.50. Net GEX was positive for 7 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 1.20.

Notable Days

  • 2018-04-05: Highest Volume — 13,110 contracts
  • 2018-04-27: Largest IV drop — 37.5% change
  • 2018-04-26: Highest IV Rank — 71.6%
  • 2018-04-26: Largest Expected Move — 12.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.96$12.58$13.49$12.58$12.74
Max Pain$12.71$11.50$13.50$13.50$13.00
ATM IV36.0%27.2%43.5%33.2%28.0%
Expected Move10.8%7.8%12.5%9.5%8.0%
HV 20d18.3%14.5%27.8%27.8%22.7%
HV 60d25.1%24.6%26.9%25.0%26.9%
IV Rank48.9%22.3%71.6%40.3%24.6%
IV Percentile82.3%61.1%97.2%79.0%64.7%
Term Structure-3.9%-8.6%10.6%8.0%-1.3%
VWIV37.5%27.6%44.8%33.8%27.6%
Skew 25d4.7%1.1%10.8%8.0%5.4%
Skew 10d9.6%2.1%24.3%13.2%3.1%
Call IV 25d36.1%24.4%42.5%33.5%24.4%
Put IV 25d40.8%27.1%49.5%41.5%29.8%
Bid-Ask Spread %65.5443.97104.14104.1482.58
Gamma HHI0.290.170.500.240.23
Net GEX-109.2K-445.0K147.5K-157.8K36.2K
Net DEX1.5M-1.4M4.4M3.7M346.3K
Net VEX-18.3K-22.2K-13.2K-15.5K-13.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.200.582.091.031.09
Total Volume7,892.3814,49013,1106,9906,800
Total OI18,682.38113,15022,89014,31016,470

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-04-02$12.58$13.5033.2%9.5%27.8%40.3%33.8%8.0%8.0%-157.8K3.7M-15.5K1.03104.14N/AN/A3,4403,5505,5308,780
2018-04-03$12.66$13.5031.9%9.1%15.8%36.4%31.9%3.4%4.6%-199.7K3.8M-15.5K1.1692.98N/AN/A3,0803,5705,4709,230
2018-04-04$12.70$13.5030.6%8.8%15.9%32.4%30.5%1.2%10.6%-199.3K3.9M-15.1K1.0292.19N/AN/A6,4806,6005,6609,300
2018-04-05$12.75$11.5030.2%11.1%16.0%31.3%39.2%3.7%-7.0%-156.6K3.5M-22.2K1.0143.97N/AN/A6,5106,6009,06012,350
2018-04-06$12.60$11.5030.1%11.3%16.2%31.1%39.4%4.1%-5.0%-151.9K4.1M-21.4K1.0148.38N/AN/A6,5106,6009,06012,350
2018-04-09$12.60$11.5033.3%11.6%14.5%40.6%40.2%1.9%-7.2%-120.8K4.4M-19.8K0.5846.69N/AN/A6,3503,6709,06012,350
2018-04-10$12.77$11.5032.1%11.1%15.6%37.0%38.8%3.4%-6.2%-155.3K3.2M-20.9K0.5844.61N/AN/A6,3503,6709,13012,420
2018-04-11$12.88$11.5042.5%12.2%16.0%68.5%38.6%10.8%-7.2%-146.0K3.0M-21.7K0.5878.17N/AN/A6,3503,6809,13012,420
2018-04-12$12.99$12.5040.1%11.5%16.2%61.4%37.4%5.5%-6.1%-168.9K2.4M-20.4K0.5860.19N/AN/A6,1903,6009,13012,460
2018-04-13$13.02$12.5040.7%11.7%16.2%63.0%38.4%7.6%-7.7%-164.7K2.5M-19.5K0.5874.94N/AN/A6,1903,6009,12012,470
2018-04-16$13.26$12.5038.1%10.9%17.3%55.3%39.5%7.4%-6.4%-252.3K1.1M-19.4K1.4055.46N/AN/A2,5703,5909,12012,470
2018-04-17$13.44$12.5037.4%10.7%17.7%53.2%36.7%3.3%-6.4%-326.1K-989.8K-19.3K1.8056.13N/AN/A2,0103,6109,45012,510
2018-04-18$13.49$12.5037.2%10.7%17.6%52.6%38.1%5.1%-5.4%-445.0K-995.5K-19.2K2.0948.80N/AN/A1,7203,5909,58012,570
2018-04-19$13.42$12.5037.2%10.7%17.7%52.6%37.1%3.2%-6.8%-366.3K-635.2K-18.1K1.4867.28N/AN/A2,5103,7109,63012,630
2018-04-20$13.09$13.5039.4%11.3%20.1%59.1%39.4%4.6%-8.6%132.4K2.0M-18.3K1.7157.41N/AN/A2,3404,00010,09012,800
2018-04-23$13.10$13.5039.3%11.3%19.8%58.8%38.1%2.1%-3.3%136.5K-1.2M-17.4K1.9268.14N/AN/A1,5402,9506,9506,200
2018-04-24$13.02$13.5042.2%12.1%19.8%67.6%44.2%6.6%-5.9%111.3K-642.9K-17.6K1.7269.71N/AN/A1,7302,9807,0006,360
2018-04-25$13.10$13.5042.4%12.2%18.5%68.2%42.8%5.3%-7.4%125.5K-1.1M-18.2K1.6051.54N/AN/A1,8803,0007,1806,450
2018-04-26$13.26$13.5043.5%12.5%18.7%71.6%44.8%6.0%-8.3%147.5K-1.4M-19.0K1.1944.69N/AN/A2,5903,0907,2606,490
2018-04-27$12.69$13.5027.2%7.8%24.4%22.3%31.5%1.1%1.0%28.9K512.2K-13.6K1.0588.30N/AN/A3,3903,5509,3107,330
2018-04-30$12.74$13.0028.0%8.0%22.7%24.6%27.6%5.4%-1.3%36.2K346.3K-13.2K1.0982.58N/AN/A3,2503,5509,0007,470