MSTR Options History — August 2021

In August 2021, MSTR traded between $62.49 and $77.28. ATM implied volatility averaged 81.9%, placing in the 36.9% IV rank vs the trailing year. The 30-day expected move averaged 23.0%. IV traded below realized volatility by 14.9% (HV 20d: 96.7%). Max pain ranged from $57.00 to $65.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 0.58.

Notable Days

2021-08-06: Highest Volume — 249,080 contracts
2021-08-10: Largest IV drop — 7.0% change
2021-08-09: Highest IV Rank — 47.1%
2021-08-09: Largest Expected Move — 26.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$70.45	$62.49	$77.28	$64.09	$69.46
Max Pain	$60.18	$57.00	$65.00	$60.00	$65.00
ATM IV	81.9%	76.7%	92.1%	84.8%	76.7%
Expected Move	23.0%	20.2%	26.2%	23.6%	20.2%
HV 20d	96.7%	58.9%	117.7%	112.7%	58.9%
HV 60d	92.1%	89.9%	96.6%	96.4%	90.1%
IV Rank	36.9%	29.3%	47.1%	42.0%	29.3%
IV Percentile	35.6%	22.6%	62.7%	44.8%	22.6%
Term Structure	0.8%	-1.5%	2.9%	0.3%	0.9%
VWIV	84.5%	74.0%	95.7%	87.3%	74.0%
Skew 25d	-1.8%	-6.6%	0.1%	-2.1%	-0.9%
Skew 10d	-0.2%	-6.0%	4.3%	-2.9%	-0.0%
Call IV 25d	85.6%	79.0%	96.5%	89.2%	80.2%
Put IV 25d	83.8%	78.4%	93.5%	87.1%	79.3%
Bid-Ask Spread %	20.90	13.47	32.99	22.19	32.99
Gamma HHI	0.05	0.03	0.21	0.03	0.03
Net GEX	18.1M	5.5M	40.9M	13.5M	13.4M
Net DEX	-1.49B	-2.18B	-1.02B	-1.12B	-1.20B
Net VEX	-10.5M	-11.7M	-9.7M	-9.8M	-10.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.58	0.23	0.86	0.63	0.77
Total Volume	102,388.182	52,520	249,080	85,360	52,520
Total OI	1,015,858.182	906,190	1,096,240	959,080	994,780

Daily Data (22 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
2021-08-02	$64.09	$60.00	84.8%	23.6%	112.7%	42.0%	87.3%	-2.1%	0.3%	13.5M	-1.12B	-9.8M	0.63	22.19	N/A	N/A	52,470	32,890	573,950	385,130
2021-08-03	$62.49	$60.00	83.1%	22.8%	113.1%	40.9%	83.2%	-3.7%	-0.5%	13.4M	-1.02B	-9.7M	0.55	25.69	N/A	N/A	34,900	19,350	600,130	391,640
2021-08-04	$67.13	$60.00	83.6%	23.0%	115.9%	41.2%	83.1%	-2.6%	-0.8%	21.1M	-1.40B	-10.3M	0.49	23.74	N/A	N/A	65,870	32,590	612,190	405,730
2021-08-05	$71.80	$57.00	85.7%	24.8%	117.2%	42.7%	89.6%	-5.5%	-1.1%	26.5M	-1.84B	-10.9M	0.34	13.47	N/A	N/A	151,680	51,070	621,550	413,910
2021-08-06	$74.84	$57.00	87.7%	24.9%	117.7%	43.9%	89.7%	-6.6%	-1.5%	40.9M	-2.16B	-11.4M	0.23	14.59	N/A	N/A	201,910	47,170	636,150	424,600
2021-08-09	$77.28	$57.00	92.1%	26.2%	114.6%	47.1%	95.7%	-2.9%	-1.1%	25.4M	-2.18B	-11.7M	0.41	15.81	N/A	N/A	112,270	45,750	594,870	395,700
2021-08-10	$75.79	$58.00	85.6%	24.8%	114.9%	40.1%	91.1%	-2.7%	1.9%	28.6M	-2.06B	-11.5M	0.63	14.18	N/A	N/A	54,150	34,100	613,730	406,180
2021-08-11	$74.97	$59.00	83.5%	24.5%	114.0%	38.5%	90.1%	-1.6%	2.1%	26.0M	-1.95B	-11.1M	0.60	16.02	N/A	N/A	50,580	30,120	626,470	423,650
2021-08-12	$71.83	$60.00	81.2%	23.7%	113.8%	36.8%	86.0%	-0.7%	0.8%	18.3M	-1.63B	-10.6M	0.46	18.02	N/A	N/A	46,470	21,250	632,420	438,210
2021-08-13	$72.81	$60.00	79.3%	23.1%	112.7%	35.3%	84.1%	-1.1%	2.1%	19.9M	-1.70B	-10.9M	0.65	16.48	N/A	N/A	52,580	34,320	644,950	451,290
2021-08-16	$69.83	$60.00	82.3%	23.6%	111.9%	36.6%	85.6%	0.1%	0.4%	16.0M	-1.44B	-10.5M	0.54	15.65	N/A	N/A	50,070	27,130	595,920	414,740
2021-08-17	$66.22	$60.00	82.1%	23.6%	114.7%	36.5%	87.0%	0.1%	1.0%	9.3M	-1.13B	-10.0M	0.43	17.66	N/A	N/A	55,760	23,830	607,910	427,080
2021-08-18	$65.97	$60.00	79.6%	22.8%	109.8%	34.6%	84.7%	-0.2%	2.7%	5.5M	-1.09B	-9.9M	0.55	22.32	N/A	N/A	41,940	22,930	619,750	445,130
2021-08-19	$67.68	$60.00	81.0%	23.2%	109.7%	35.7%	84.7%	-1.8%	2.3%	8.1M	-1.22B	-10.2M	0.75	22.02	N/A	N/A	43,750	32,690	622,370	452,830
2021-08-20	$71.56	$60.00	81.7%	23.2%	109.9%	36.2%	89.6%	-0.5%	2.9%	18.1M	-1.60B	-10.6M	0.56	17.35	N/A	N/A	116,530	65,040	630,040	455,050
2021-08-23	$71.50	$60.00	80.0%	22.5%	68.0%	34.8%	82.0%	-0.7%	1.7%	14.4M	-1.38B	-10.4M	0.81	20.38	N/A	N/A	54,420	43,870	543,610	362,580
2021-08-24	$71.15	$60.00	78.3%	21.7%	59.8%	33.0%	79.0%	-0.3%	0.2%	16.6M	-1.34B	-10.3M	0.61	24.56	N/A	N/A	52,060	31,670	567,400	367,890
2021-08-25	$73.01	$61.00	78.3%	21.6%	59.4%	33.0%	78.4%	-1.4%	1.2%	20.7M	-1.48B	-10.6M	0.75	21.79	N/A	N/A	34,160	25,680	585,960	389,650
2021-08-26	$69.56	$62.00	77.2%	21.3%	59.8%	31.3%	77.7%	-0.6%	1.2%	11.8M	-1.19B	-10.1M	0.40	24.90	N/A	N/A	79,500	31,870	596,400	400,420
2021-08-27	$70.74	$63.00	78.2%	21.1%	59.9%	32.1%	78.2%	-2.5%	0.4%	17.5M	-1.33B	-10.4M	0.75	29.11	N/A	N/A	78,590	59,000	603,610	406,580
2021-08-30	$70.15	$65.00	78.8%	21.0%	59.7%	31.1%	77.2%	-1.1%	1.5%	13.8M	-1.26B	-10.4M	0.86	30.88	N/A	N/A	31,250	26,790	590,100	376,630
2021-08-31	$69.46	$65.00	76.7%	20.2%	58.9%	29.3%	74.0%	-0.9%	0.9%	13.4M	-1.20B	-10.3M	0.77	32.99	N/A	N/A	29,600	22,920	604,000	390,780