MSTR Options History — December 2020

In December 2020, MSTR traded between $27.95 and $39.17. ATM implied volatility averaged 99.6%, placing in the 72.0% IV rank vs the trailing year. The 30-day expected move averaged 29.2%. IV traded below realized volatility by 12.0% (HV 20d: 111.6%). Max pain ranged from $19.00 to $30.00. Net GEX was positive for 8 of 22 trading days. Term structure was in contango for 20 of 22 days. Put/call ratio averaged 0.63.

Notable Days

  • 2020-12-17: Highest Volume — 71,510 contracts
  • 2020-12-14: Largest IV spike — 14.4% change
  • 2020-12-02: Highest IV Rank — 91.8%
  • 2020-12-02: Largest Expected Move — 34.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$32.21$27.95$39.17$32.61$39.17
Max Pain$25.20$19.00$30.00$30.00$30.00
ATM IV99.6%86.4%121.0%117.8%86.4%
Expected Move29.2%24.8%34.7%33.8%24.8%
HV 20d111.6%87.8%123.6%101.4%87.8%
HV 60d79.9%77.8%84.3%77.9%84.3%
IV Rank72.0%59.7%91.8%88.8%59.7%
IV Percentile95.9%89.3%99.6%99.6%89.3%
Term Structure10.9%-3.1%24.3%7.3%12.3%
VWIV105.9%91.9%128.6%128.6%95.2%
Skew 25d-21.8%-32.4%-9.7%-30.3%-9.7%
Skew 10d-37.2%-53.3%-15.8%-37.5%-21.1%
Call IV 25d119.0%98.4%149.8%149.8%101.7%
Put IV 25d97.2%83.4%119.5%119.5%92.0%
Bid-Ask Spread %55.1944.5868.9853.9967.43
Gamma HHI0.130.070.500.120.09
Net GEX272.5K-2.8M3.9M-444.7K3.9M
Net DEX-216.9M-425.8M-107.1M-167.0M-425.8M
Net VEX-778.9K-1.2M-493.8K-493.8K-1.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.630.271.070.570.55
Total Volume32,284.5457,76071,51032,22033,590
Total OI208,052.273150,580287,010150,580252,660

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-12-01$32.61$30.00117.8%33.8%101.4%88.8%128.6%-30.3%7.3%-444.7K-167.0M-493.8K0.5753.99N/AN/A20,54011,68085,21065,370
2020-12-02$32.38$30.00121.0%34.7%102.5%91.8%125.1%-28.8%-3.1%-576.6K-173.5M-554.6K0.4644.58N/AN/A8,2403,82094,37071,610
2020-12-03$33.06$19.00103.8%31.8%102.0%75.8%112.4%-29.7%2.7%-641.4K-189.5M-552.1K0.5746.47N/AN/A7,3604,21096,44073,120
2020-12-04$32.76$19.0097.6%31.2%102.9%70.1%112.1%-31.1%-1.5%-752.1K-189.5M-551.7K1.0746.46N/AN/A8,5409,13099,23073,460
2020-12-07$33.59$19.5090.4%29.8%102.9%63.4%112.7%-30.7%6.2%-269.5K-212.7M-519.5K0.6559.99N/AN/A10,7307,02099,52066,970
2020-12-08$29.12$20.0097.5%31.9%119.4%70.0%114.3%-24.5%5.4%-1.1M-120.8M-524.6K0.5555.80N/AN/A22,53012,450102,48069,970
2020-12-09$28.50$21.00110.0%31.5%120.3%81.6%109.4%-24.4%5.9%-974.2K-112.3M-578.7K0.6561.45N/AN/A20,17013,070114,35076,590
2020-12-10$28.90$21.00109.7%31.5%120.3%81.3%110.1%-32.4%9.4%-1.2M-133.9M-633.7K0.5759.03N/AN/A8,8805,090124,95081,600
2020-12-11$28.39$21.0096.6%27.7%119.7%69.2%101.3%-23.2%19.9%-1.3M-120.1M-625.8K0.8052.73N/AN/A14,99012,030127,37082,160
2020-12-14$27.95$22.00110.5%31.7%120.3%82.1%108.6%-25.0%6.7%-1.4M-107.1M-622.0K0.2762.54N/AN/A27,5407,560131,51088,460
2020-12-15$28.55$23.00106.6%30.6%119.5%78.4%109.3%-20.8%9.9%-869.1K-138.7M-668.9K0.6051.36N/AN/A13,1507,830145,31091,940
2020-12-16$30.09$23.00109.2%31.3%120.2%80.8%114.6%-18.7%8.4%-697.5K-203.9M-708.2K0.4050.69N/AN/A32,75013,240151,75092,730
2020-12-17$29.52$24.0095.3%27.3%120.8%68.0%99.8%-10.6%19.7%-1.8M-188.4M-726.8K0.6061.81N/AN/A44,72026,790163,130102,700
2020-12-18$29.84$30.0087.0%25.0%120.8%60.3%92.4%-14.6%23.0%-2.8M-186.9M-815.9K0.9749.96N/AN/A24,55023,800173,040113,970
2020-12-21$31.65$30.0093.0%26.7%121.7%65.8%102.3%-17.3%24.3%795.5K-191.7M-861.9K0.8848.93N/AN/A20,95018,340117,01048,380
2020-12-22$33.33$30.0099.9%28.6%121.8%72.2%104.6%-21.3%14.2%1.3M-238.0M-940.2K0.5251.29N/AN/A30,19015,700128,94059,990
2020-12-23$34.11$29.0093.6%26.8%116.2%66.4%95.7%-20.9%18.5%2.3M-283.4M-1.0M0.6259.45N/AN/A11,2607,010148,69056,990
2020-12-24$32.26$28.0089.0%25.5%114.8%62.1%92.1%-21.9%19.8%2.2M-258.2M-1.1M0.7354.42N/AN/A4,4803,280157,69057,720
2020-12-28$37.10$29.0099.5%28.5%123.6%71.8%102.7%-21.0%13.4%3.2M-359.2M-1.1M0.6557.00N/AN/A28,18018,320155,46058,940
2020-12-29$36.68$28.0087.3%25.0%88.6%60.5%91.9%-12.9%5.5%3.3M-351.0M-1.1M0.4368.98N/AN/A23,95010,390164,74068,070
2020-12-30$39.12$28.0090.4%25.9%88.0%63.4%94.2%-10.3%11.7%3.9M-420.8M-1.2M0.6449.92N/AN/A37,89024,320171,35071,210
2020-12-31$39.17$30.0086.4%24.8%87.8%59.7%95.2%-9.7%12.3%3.9M-425.8M-1.2M0.5567.43N/AN/A21,69011,900177,85074,810