MSTR Options History — April 2020

In April 2020, MSTR traded between $11.03 and $13.03. ATM implied volatility averaged 48.4%, placing in the 45.7% IV rank vs the trailing year. The 30-day expected move averaged 14.3%. IV traded below realized volatility by 19.6% (HV 20d: 67.9%). Max pain ranged from $12.00 to $13.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 2.00.

Notable Days

  • 2020-04-09: Highest Volume — 330 contracts
  • 2020-04-06: Largest IV drop — 32.7% change
  • 2020-04-01: Highest IV Rank — 68.0%
  • 2020-04-01: Largest Expected Move — 17.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.28$11.03$13.03$11.32$12.66
Max Pain$12.05$12.00$13.00$13.00$12.00
ATM IV48.4%34.8%61.6%61.6%36.4%
Expected Move14.3%10.0%17.7%17.7%10.4%
HV 20d67.9%40.5%95.4%92.9%40.5%
HV 60d59.7%57.0%61.3%57.0%59.8%
IV Rank45.7%22.8%68.0%68.0%25.6%
IV Percentile87.8%67.1%96.4%96.4%69.8%
Term Structure-5.5%-12.6%0.7%-4.1%0.7%
VWIV46.3%37.1%60.4%60.4%39.4%
Skew 25d10.6%0.3%24.8%12.1%6.5%
Skew 10d17.9%-4.9%41.7%12.8%10.4%
Call IV 25d43.0%28.8%57.2%57.2%30.5%
Put IV 25d53.6%36.4%69.3%69.3%37.0%
Bid-Ask Spread %89.0876.73104.9098.31104.90
Gamma HHI0.230.130.420.220.13
Net GEX-29.8K-96.6K-305-28.4K-305
Net DEX1.3M559.4K2.1M2.0M584.1K
Net VEX-5.8K-6.9K-4.9K-6.3K-5.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.000.0010.001.000.00
Total Volume98.57103302060
Total OI3,913.812,2805,0905,0502,750

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-04-01$11.32$13.0061.6%17.7%92.9%68.0%60.4%12.1%-4.1%-28.4K2.0M-6.3K1.0098.31N/AN/A10102,0602,990
2020-04-02$11.47$12.0057.6%17.3%93.1%61.2%0.0%18.1%-10.6%-30.7K2.0M-6.3K0.0077.75N/AN/A002,0702,980
2020-04-03$11.03$12.0058.3%16.9%93.7%62.4%0.0%10.8%-6.9%-24.0K2.1M-5.8K0.0077.56N/AN/A0502,0702,980
2020-04-06$11.57$12.0039.2%14.8%95.0%30.3%51.7%2.8%-5.4%-32.8K2.0M-5.7K0.0078.51N/AN/A02602,0502,980
2020-04-07$11.78$12.0036.6%15.1%95.4%25.9%0.0%9.2%-5.8%-36.3K2.0M-6.1K0.0082.62N/AN/A002,0503,040
2020-04-08$12.25$12.0047.3%13.6%94.4%43.9%0.0%21.1%-4.8%-64.9K1.7M-6.6K0.0094.30N/AN/A01102,0503,040
2020-04-09$12.46$12.0054.5%15.6%85.1%56.1%47.3%14.1%-12.6%-71.7K1.5M-6.9K3.7176.73N/AN/A702602,0503,010
2020-04-13$12.14$12.0047.6%13.7%85.8%44.5%49.5%4.5%-4.2%-50.6K1.6M-5.7K0.0096.45N/AN/A0302,1202,790
2020-04-14$12.59$12.0046.2%13.3%85.7%42.1%46.7%2.9%-4.2%-96.6K1.4M-6.3K0.0096.07N/AN/A0102,1202,800
2020-04-15$12.13$12.0048.9%14.0%87.0%46.5%0.0%12.9%-3.7%-44.1K1.7M-5.6K0.0096.11N/AN/A002,1202,810
2020-04-16$12.33$12.0050.7%14.5%63.9%49.6%0.0%11.1%-8.2%-62.2K1.6M-5.8K0.0094.37N/AN/A0102,1202,790
2020-04-17$12.68$12.0046.7%13.4%51.2%42.9%0.0%0.3%-2.0%-15.0K1.4M-5.7K0.00100.79N/AN/A002,1202,760
2020-04-20$12.67$12.0050.6%14.5%46.2%49.5%37.1%24.8%-4.7%-13.6K696.6K-5.6K0.1789.70N/AN/A120207501,660
2020-04-21$12.29$12.0053.3%15.3%48.5%54.0%50.4%9.1%-7.0%-12.0K737.3K-5.7K0.0079.01N/AN/A4008001,660
2020-04-22$12.51$12.0049.1%14.1%45.8%47.0%0.0%12.8%-0.6%-9.9K691.6K-5.8K0.0083.88N/AN/A01308401,660
2020-04-23$12.60$12.0052.1%14.9%45.8%52.1%0.0%8.4%-7.0%-11.4K713.9K-5.8K0.0077.98N/AN/A03008401,710
2020-04-24$12.65$12.0050.9%14.6%45.3%50.0%50.5%16.6%-10.4%-6.8K640.9K-5.4K0.0080.29N/AN/A0108401,440
2020-04-27$13.03$12.0044.4%12.7%44.6%39.0%42.9%7.8%-2.7%-6.6K592.7K-5.3K10.0092.02N/AN/A101008401,450
2020-04-28$12.90$12.0048.7%14.0%44.8%46.3%42.6%10.9%-12.4%-6.3K559.4K-5.4K1.0689.89N/AN/A1601708501,450
2020-04-29$12.74$12.0034.8%10.0%41.7%22.8%37.2%5.3%0.4%-2.5K603.4K-4.9K0.08103.37N/AN/A120101,0301,650
2020-04-30$12.66$12.0036.4%10.4%40.5%25.6%39.4%6.5%0.7%-305584.1K-5.0K0.00104.90N/AN/A6001,1001,650