MSTR Options History — May 2020

In May 2020, MSTR traded between $11.26 and $12.63. ATM implied volatility averaged 39.4%, placing in the 30.5% IV rank vs the trailing year. The 30-day expected move averaged 10.4%. IV traded above realized volatility by 1.6% (HV 20d: 37.8%). Max pain ranged from $12.00 to $12.50. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 4.53.

Notable Days

  • 2020-05-01: Highest Volume — 3,210 contracts
  • 2020-05-12: Largest IV spike — 40.9% change
  • 2020-05-12: Highest IV Rank — 71.2%
  • 2020-05-01: Largest Expected Move — 12.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.13$11.26$12.63$12.17$12.48
Max Pain$12.47$12.00$12.50$12.00$12.50
ATM IV39.4%32.3%63.4%45.1%34.9%
Expected Move10.4%9.2%12.9%12.9%10.0%
HV 20d37.8%35.1%43.4%43.4%36.7%
HV 60d61.5%60.2%62.7%60.2%61.9%
IV Rank30.5%18.5%71.2%40.2%23.0%
IV Percentile71.2%57.9%97.2%84.5%61.9%
Term Structure0.1%-2.5%2.7%-1.5%-0.1%
VWIV35.6%31.6%43.4%43.4%34.1%
Skew 25d6.1%-11.4%13.0%-11.4%0.7%
Skew 10d13.5%-1.7%30.1%17.7%12.4%
Call IV 25d34.3%28.2%59.4%59.4%38.9%
Put IV 25d40.3%35.6%47.9%47.9%39.6%
Bid-Ask Spread %83.3473.9896.9696.9688.34
Gamma HHI0.240.130.360.130.19
Net GEX-29.0K-71.4K-2.6K-2.6K-17.9K
Net DEX1.1M654.2K2.3M696.5K938.3K
Net VEX-7.2K-8.8K-4.9K-4.9K-6.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.530.0015.001.3313.00
Total Volume23503,2103,2100
Total OI4,873.52,7405,6802,7404,500

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-05-01$12.17$12.0045.1%12.9%43.4%40.2%43.4%-11.4%-1.5%-2.6K696.5K-4.9K1.3396.96N/AN/A1,3801,8301,0901,650
2020-05-04$11.81$12.5043.5%11.2%42.4%37.5%0.0%11.6%-1.2%-36.6K1.5M-8.2K0.0075.05N/AN/A01902,1703,300
2020-05-05$12.05$12.5046.2%10.4%39.6%42.1%0.0%13.0%-0.3%-34.9K1.2M-8.8K0.0083.10N/AN/A0102,1703,400
2020-05-06$12.20$12.5042.9%11.3%39.4%36.5%0.0%7.7%2.7%-32.0K1.1M-8.8K0.0073.98N/AN/A5002,1703,410
2020-05-07$12.30$12.5042.0%11.5%36.9%35.0%0.0%10.4%-2.5%-30.2K952.2K-8.7K15.0078.07N/AN/A101502,1203,410
2020-05-08$12.49$12.5037.4%9.5%36.8%27.2%31.8%6.1%0.4%-18.8K710.6K-8.3K0.0080.24N/AN/A15002,1303,310
2020-05-11$12.46$12.5045.0%9.8%35.5%40.1%37.0%8.2%0.5%-15.7K672.7K-8.4K0.0077.27N/AN/A0202,2603,310
2020-05-12$12.05$12.5063.4%10.1%35.1%71.2%0.0%6.8%-1.1%-45.9K1.3M-7.7K7.0080.30N/AN/A10702,2603,330
2020-05-13$11.52$12.5039.1%11.2%36.3%30.2%0.0%3.6%-0.7%-71.4K2.0M-6.6K3.5080.00N/AN/A20702,2603,360
2020-05-14$11.26$12.5037.1%10.6%36.3%26.8%32.7%8.8%1.2%-50.2K2.3M-6.1K0.0081.96N/AN/A0202,2803,400
2020-05-15$11.59$12.5034.4%9.9%36.5%22.2%0.0%7.9%1.8%-62.2K2.1M-6.5K0.0081.11N/AN/A002,2803,400
2020-05-18$12.05$12.5036.5%10.5%39.6%25.8%0.0%8.5%-0.5%-23.7K1.1M-7.0K0.0083.50N/AN/A0701,7302,530
2020-05-19$12.03$12.5036.4%10.4%38.2%25.6%0.0%7.3%0.4%-22.5K1.1M-6.8K0.0082.93N/AN/A001,7302,520
2020-05-20$12.11$12.5035.2%10.1%37.6%23.5%31.6%8.1%-0.2%-23.1K1.1M-6.7K2.0087.33N/AN/A30601,7302,520
2020-05-21$12.15$12.5034.1%9.8%37.5%21.7%34.3%5.5%-0.1%-23.8K1.0M-6.8K0.0084.44N/AN/A01101,7602,520
2020-05-22$12.22$12.5033.4%9.6%37.6%20.5%35.4%6.6%0.9%-23.7K1.0M-6.8K7.0089.40N/AN/A10701,7602,550
2020-05-26$12.46$12.5032.3%9.2%36.6%18.5%40.1%-1.0%1.7%-18.2K787.6K-6.9K0.0088.41N/AN/A3001,7602,590
2020-05-27$12.61$12.5034.0%9.8%36.8%21.5%0.0%6.4%0.8%-14.0K654.2K-6.9K1.0087.00N/AN/A1001001,7802,590
2020-05-28$12.63$12.5034.1%9.8%36.6%21.6%34.1%7.0%0.1%-13.0K683.0K-6.8K13.0087.44N/AN/A101301,7902,640
2020-05-29$12.48$12.5034.9%10.0%36.7%23.0%0.0%0.7%-0.1%-17.9K938.3K-6.6K0.0088.34N/AN/A001,7902,710