MSTR Options History — September 2019

In September 2019, MSTR traded between $13.75 and $15.09. ATM implied volatility averaged 26.4%, placing in the 14.8% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded below realized volatility by 1.9% (HV 20d: 28.3%). Max pain ranged from $13.50 to $14.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 3.77.

Notable Days

  • 2019-09-05: Highest Volume — 2,880 contracts
  • 2019-09-05: Largest IV drop — 8.8% change
  • 2019-09-04: Highest IV Rank — 19.8%
  • 2019-09-04: Largest Expected Move — 7.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$14.65$13.75$15.09$14.39$14.88
Max Pain$13.95$13.50$14.00$13.50$14.00
ATM IV26.4%23.9%27.6%27.3%26.6%
Expected Move7.6%7.2%7.9%7.8%7.6%
HV 20d28.3%21.9%30.2%21.9%29.7%
HV 60d40.0%38.8%41.8%40.2%39.4%
IV Rank14.8%7.5%19.8%19.1%14.3%
IV Percentile38.8%17.1%48.8%45.2%37.7%
Term Structure5.1%-0.7%9.3%-0.2%9.3%
VWIV27.7%24.4%32.4%31.1%31.7%
Skew 25d2.1%1.7%2.7%1.9%2.6%
Skew 10d4.4%3.0%5.7%5.2%4.2%
Call IV 25d25.7%24.8%26.7%26.6%25.9%
Put IV 25d27.8%26.5%29.2%28.5%28.5%
Bid-Ask Spread %74.2365.0081.6481.0880.57
Gamma HHI0.270.240.330.240.28
Net GEX228.8K109.0K347.0K207.8K210.8K
Net DEX-3.8M-5.7M-1.2M-3.0M-3.9M
Net VEX-23.3K-28.6K-21.3K-28.6K-21.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.770.0034.0034.000.41
Total Volume533.5302,8801,050540
Total OI13,45010,97014,86014,86011,880

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-09-03$14.39$13.5027.3%7.8%21.9%19.1%31.1%1.9%-0.2%207.8K-3.0M-28.6K34.0081.08N/AN/A301,0207,8706,990
2019-09-04$13.75$13.5027.6%7.9%27.9%19.8%26.7%2.3%-0.7%109.0K-1.2M-25.3K0.0981.64N/AN/A340307,8906,150
2019-09-05$14.15$14.0025.2%7.4%26.8%11.6%24.4%2.1%4.4%204.4K-2.6M-25.4K25.1867.94N/AN/A1102,7708,1406,170
2019-09-06$14.00$14.0023.9%7.4%26.7%7.5%25.9%1.7%4.4%185.0K-2.3M-23.7K1.0066.31N/AN/A40408,1305,570
2019-09-09$14.33$14.0025.3%7.4%27.9%12.1%0.0%2.0%4.3%245.5K-3.3M-23.7K0.0067.51N/AN/A5008,1705,600
2019-09-10$14.46$14.0026.8%7.6%28.1%17.1%0.0%2.2%4.1%273.8K-3.7M-23.1K1.7065.00N/AN/A3005108,1205,600
2019-09-11$14.74$14.0026.1%7.5%28.2%14.6%25.5%2.1%4.2%293.2K-4.4M-23.2K0.1269.81N/AN/A410507,9406,070
2019-09-12$14.87$14.0025.3%7.2%28.1%11.8%26.0%1.7%4.6%323.5K-4.9M-22.6K0.2970.77N/AN/A280807,9406,130
2019-09-13$14.58$14.0026.5%7.6%29.0%16.0%0.0%2.4%4.1%226.8K-3.6M-22.3K0.0078.17N/AN/A34007,8206,210
2019-09-16$14.68$14.0026.8%7.7%29.0%16.2%28.5%1.8%3.7%266.4K-4.1M-23.9K0.0672.43N/AN/A170108,1106,210
2019-09-17$14.92$14.0026.1%7.5%28.3%12.6%25.5%1.7%4.4%329.6K-5.0M-23.5K3.6773.87N/AN/A301108,1606,270
2019-09-18$14.81$14.0025.8%7.4%28.5%11.5%27.4%1.8%4.7%301.7K-4.6M-23.0K0.5075.51N/AN/A20108,1906,300
2019-09-19$15.08$14.0026.9%7.7%29.0%15.4%27.7%1.7%4.0%347.0K-5.7M-22.4K0.4772.59N/AN/A5102408,1706,300
2019-09-20$14.78$14.0026.7%7.7%30.2%14.8%26.8%2.7%4.1%148.7K-4.4M-22.7K0.1873.28N/AN/A330608,3706,450
2019-09-23$15.09$14.0027.2%7.8%28.7%16.4%27.3%1.9%8.4%186.3K-4.2M-22.2K0.2676.39N/AN/A5001306,3404,630
2019-09-24$14.88$14.0027.3%7.8%29.3%16.8%30.7%2.5%8.5%173.2K-3.7M-22.7K0.0075.46N/AN/A22006,8004,860
2019-09-25$14.98$14.0026.8%7.7%29.2%14.9%25.7%2.3%8.0%188.3K-4.1M-22.3K0.0078.88N/AN/A17006,8704,860
2019-09-26$14.91$14.0026.9%7.7%29.3%15.3%32.4%2.7%8.1%189.6K-3.9M-22.5K0.0078.29N/AN/A0907,0104,860
2019-09-27$14.67$14.0027.6%7.9%29.8%17.8%27.9%2.1%8.7%165.6K-3.3M-22.0K0.4179.11N/AN/A8003307,0104,840
2019-09-30$14.88$14.0026.6%7.6%29.7%14.3%31.7%2.6%9.3%210.8K-3.9M-21.3K0.0080.57N/AN/A05407,3104,570