MSTR Options History — October 2018

In October 2018, MSTR traded between $12.13 and $13.71. ATM implied volatility averaged 38.1%, placing in the 55.7% IV rank vs the trailing year. The 30-day expected move averaged 11.4%. IV traded above realized volatility by 14.4% (HV 20d: 23.8%). Max pain ranged from $13.00 to $14.50. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 3 of 23 days. Put/call ratio averaged 0.85.

Notable Days

2018-10-18: Highest Volume — 6,720 contracts
2018-10-10: Largest IV spike — 49.7% change
2018-10-25: Highest IV Rank — 96.3%
2018-10-25: Largest Expected Move — 14.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$12.83	$12.13	$13.71	$13.71	$12.63
Max Pain	$13.50	$13.00	$14.50	$14.50	$13.00
ATM IV	38.1%	24.2%	51.7%	24.8%	34.3%
Expected Move	11.4%	6.9%	14.8%	7.1%	9.8%
HV 20d	23.8%	22.3%	25.5%	23.4%	24.0%
HV 60d	25.4%	23.9%	26.5%	24.8%	24.7%
IV Rank	55.7%	14.2%	96.3%	15.8%	44.4%
IV Percentile	79.8%	29.8%	99.2%	36.1%	78.6%
Term Structure	-6.1%	-13.4%	10.9%	9.5%	-2.9%
VWIV	42.7%	25.8%	57.2%	25.8%	34.3%
Skew 25d	5.4%	2.0%	11.8%	2.5%	5.6%
Skew 10d	14.8%	5.3%	31.5%	5.3%	13.7%
Call IV 25d	38.3%	23.4%	52.9%	23.4%	30.6%
Put IV 25d	43.7%	25.9%	55.7%	25.9%	36.3%
Bid-Ask Spread %	67.58	41.20	88.16	54.93	71.66
Gamma HHI	0.31	0.11	0.54	0.24	0.21
Net GEX	-148.6K	-332.6K	-33.5K	-74.7K	-42.0K
Net DEX	2.1M	771.9K	4.1M	1.3M	771.9K
Net VEX	-9.3K	-10.6K	-7.8K	-10.6K	-7.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.85	0.73	1.02	0.85	0.74
Total Volume	5,208.696	4,540	6,720	4,540	4,940
Total OI	11,897.826	7,910	15,530	12,850	8,990

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2018-10-01	$13.71	$14.50	24.8%	7.1%	23.4%	15.8%	25.8%	2.5%	9.5%	-74.7K	1.3M	-10.6K	0.85	54.93	N/A	N/A	2,450	2,090	5,910	6,940
2018-10-02	$13.26	$14.50	24.2%	6.9%	25.5%	14.2%	26.8%	2.1%	10.9%	-160.4K	2.3M	-10.5K	0.78	85.94	N/A	N/A	2,620	2,040	5,910	6,940
2018-10-03	$13.30	$14.00	25.2%	7.2%	25.2%	17.2%	25.9%	3.4%	9.9%	-142.9K	1.3M	-10.1K	0.78	88.16	N/A	N/A	2,600	2,040	6,040	6,370
2018-10-04	$13.10	$13.50	28.1%	10.8%	25.5%	25.7%	37.7%	2.0%	-7.2%	-183.4K	2.5M	-10.1K	0.78	48.79	N/A	N/A	2,650	2,060	6,050	6,880
2018-10-05	$13.08	$13.50	26.8%	10.1%	25.5%	21.8%	37.9%	4.5%	-5.6%	-191.8K	2.5M	-9.8K	0.85	41.20	N/A	N/A	2,650	2,260	6,150	6,920
2018-10-08	$13.15	$13.50	27.2%	10.5%	24.1%	23.2%	37.8%	4.2%	-5.2%	-204.5K	2.4M	-9.4K	0.88	48.32	N/A	N/A	2,660	2,350	6,150	7,120
2018-10-09	$13.08	$13.50	27.2%	10.5%	23.9%	23.0%	38.6%	3.7%	-5.9%	-224.5K	2.5M	-9.6K	0.90	53.74	N/A	N/A	2,600	2,350	6,180	7,220
2018-10-10	$12.67	$13.50	40.7%	11.7%	24.6%	63.4%	41.9%	4.9%	-7.7%	-216.7K	3.5M	-8.6K	0.90	64.99	N/A	N/A	2,600	2,350	6,180	7,220
2018-10-11	$12.70	$13.50	40.5%	11.6%	24.9%	63.0%	43.0%	5.5%	-7.2%	-212.2K	3.5M	-8.4K	1.02	71.27	N/A	N/A	2,600	2,650	6,180	7,220
2018-10-12	$12.73	$13.50	42.6%	12.2%	24.2%	69.0%	46.3%	4.7%	-10.7%	-223.1K	3.4M	-8.9K	0.98	67.61	N/A	N/A	2,600	2,550	6,180	7,530
2018-10-15	$12.89	$13.50	40.3%	11.6%	24.8%	62.3%	43.1%	4.6%	-8.5%	-283.2K	3.1M	-8.4K	0.96	60.92	N/A	N/A	2,620	2,520	6,180	7,550
2018-10-16	$13.07	$13.50	40.4%	11.6%	22.7%	62.5%	42.2%	4.8%	-8.2%	-332.6K	2.6M	-8.3K	0.80	62.14	N/A	N/A	3,380	2,720	6,200	7,660
2018-10-17	$13.09	$13.50	40.7%	11.7%	22.3%	63.3%	43.7%	5.6%	-9.6%	-281.7K	2.3M	-10.0K	0.85	58.89	N/A	N/A	3,350	2,840	6,970	8,100
2018-10-18	$12.85	$13.50	48.2%	13.8%	22.6%	85.8%	56.2%	4.6%	-13.4%	-301.6K	3.3M	-10.4K	0.90	83.03	N/A	N/A	3,540	3,180	6,970	8,340
2018-10-19	$12.69	$13.50	50.1%	14.4%	22.5%	91.6%	57.2%	2.5%	-12.9%	-35.4K	4.1M	-10.0K	0.90	85.02	N/A	N/A	3,540	3,180	7,210	8,320
2018-10-22	$12.79	$13.50	47.7%	13.7%	23.2%	84.4%	56.4%	10.1%	-11.2%	-33.5K	802.1K	-9.8K	0.94	73.78	N/A	N/A	2,520	2,380	4,000	3,910
2018-10-23	$12.74	$13.50	48.4%	13.9%	23.2%	86.5%	53.8%	7.7%	-11.6%	-37.7K	913.8K	-9.7K	0.90	63.79	N/A	N/A	2,520	2,270	4,140	4,110
2018-10-24	$12.41	$13.50	47.6%	13.6%	22.6%	83.9%	52.7%	8.3%	-9.8%	-51.2K	1.3M	-9.3K	0.83	66.64	N/A	N/A	2,740	2,270	4,140	4,120
2018-10-25	$12.22	$13.00	51.7%	14.8%	22.7%	96.3%	50.7%	8.9%	-13.2%	-44.6K	1.3M	-9.1K	0.75	58.91	N/A	N/A	3,010	2,270	4,440	4,110
2018-10-26	$12.34	$13.00	37.6%	10.8%	23.4%	54.3%	42.9%	11.8%	-4.8%	-46.8K	1.2M	-9.0K	0.81	80.92	N/A	N/A	2,860	2,320	4,790	4,160
2018-10-29	$12.13	$13.00	43.0%	12.3%	23.1%	70.3%	46.3%	6.1%	-7.9%	-50.5K	1.4M	-8.3K	0.77	88.12	N/A	N/A	2,900	2,220	4,870	4,110
2018-10-30	$12.40	$13.00	39.2%	11.3%	22.8%	59.1%	40.9%	5.5%	-6.5%	-43.5K	1.0M	-8.6K	0.73	75.48	N/A	N/A	2,850	2,090	4,860	4,110
2018-10-31	$12.63	$13.00	34.3%	9.8%	24.0%	44.4%	34.3%	5.6%	-2.9%	-42.0K	771.9K	-7.8K	0.74	71.66	N/A	N/A	2,840	2,100	4,930	4,060