MSTR Options History — October 2021

In October 2021, MSTR traded between $60.50 and $75.67. ATM implied volatility averaged 73.1%, placing in the 23.6% IV rank vs the trailing year. The 30-day expected move averaged 20.7%. IV traded above realized volatility by 23.4% (HV 20d: 49.8%). Max pain ranged from $63.00 to $70.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.60.

Notable Days

2021-10-20: Highest Volume — 263,850 contracts
2021-10-04: Largest IV spike — 8.1% change
2021-10-06: Highest IV Rank — 30.5%
2021-10-06: Largest Expected Move — 22.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$70.91	$60.50	$75.67	$61.09	$71.27
Max Pain	$66.71	$63.00	$70.00	$64.00	$70.00
ATM IV	73.1%	63.7%	81.4%	71.9%	68.3%
Expected Move	20.7%	18.6%	22.9%	18.6%	19.7%
HV 20d	49.8%	45.5%	54.1%	54.1%	47.3%
HV 60d	67.1%	49.9%	78.9%	78.7%	49.9%
IV Rank	23.6%	15.7%	30.5%	22.6%	19.5%
IV Percentile	16.3%	6.0%	32.9%	16.7%	9.1%
Term Structure	-0.1%	-3.3%	3.2%	0.1%	3.0%
VWIV	74.8%	66.9%	81.6%	66.9%	71.4%
Skew 25d	-3.8%	-7.4%	3.7%	1.6%	-7.0%
Skew 10d	-8.7%	-19.5%	3.8%	3.6%	-19.5%
Call IV 25d	77.9%	70.1%	87.2%	71.9%	74.9%
Put IV 25d	74.1%	63.9%	82.6%	73.6%	67.9%
Bid-Ask Spread %	26.21	14.97	55.98	55.98	38.68
Gamma HHI	0.04	0.03	0.13	0.03	0.04
Net GEX	25.8M	8.0M	47.4M	15.8M	12.5M
Net DEX	-1.46B	-1.99B	-641.5M	-697.0M	-1.26B
Net VEX	-10.4M	-11.2M	-8.4M	-8.4M	-10.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.60	0.31	1.00	0.54	0.73
Total Volume	141,431.905	64,780	263,850	124,470	214,550
Total OI	1,221,375.238	1,082,190	1,339,880	1,161,200	1,291,200

Daily Data (21 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
2021-10-01	$61.09	$64.00	71.9%	18.6%	54.1%	22.6%	66.9%	1.6%	0.1%	15.8M	-697.0M	-8.4M	0.54	55.98	N/A	N/A	80,570	43,900	723,050	438,150
2021-10-04	$60.50	$63.00	77.7%	21.6%	53.3%	27.4%	76.7%	3.7%	-3.3%	12.1M	-641.5M	-8.5M	0.31	15.42	N/A	N/A	60,440	18,990	704,200	411,320
2021-10-05	$64.80	$63.00	77.0%	21.8%	50.5%	26.9%	77.2%	-1.4%	0.1%	23.5M	-1.08B	-9.2M	0.52	15.18	N/A	N/A	72,510	37,760	740,100	417,280
2021-10-06	$66.94	$63.00	81.4%	22.9%	51.4%	30.5%	81.6%	-4.5%	-1.6%	28.3M	-1.37B	-10.0M	0.35	14.97	N/A	N/A	112,210	39,330	758,970	426,620
2021-10-07	$69.09	$63.00	77.9%	22.2%	52.4%	27.6%	79.7%	-2.7%	0.8%	37.4M	-1.63B	-10.3M	0.60	16.92	N/A	N/A	64,130	38,660	785,540	443,400
2021-10-08	$70.69	$63.00	78.0%	22.1%	50.2%	27.6%	78.8%	0.4%	0.2%	24.5M	-1.87B	-10.6M	0.77	17.55	N/A	N/A	75,290	58,280	813,530	457,810
2021-10-11	$73.52	$63.00	78.2%	22.0%	50.9%	27.8%	78.8%	-2.9%	-1.8%	29.6M	-1.74B	-10.9M	0.48	18.26	N/A	N/A	108,460	51,580	757,400	413,230
2021-10-12	$70.87	$65.00	77.9%	21.9%	52.1%	27.6%	77.3%	-2.9%	-1.4%	27.7M	-1.52B	-10.5M	0.52	19.67	N/A	N/A	55,910	29,160	770,650	431,010
2021-10-13	$72.26	$65.00	79.0%	22.1%	51.9%	28.5%	80.2%	-4.1%	-1.6%	30.0M	-1.63B	-10.7M	0.48	20.91	N/A	N/A	43,650	21,130	806,800	450,020
2021-10-14	$72.63	$66.00	78.9%	22.2%	51.7%	28.4%	79.6%	-4.5%	-2.2%	32.4M	-1.67B	-10.8M	0.56	19.07	N/A	N/A	45,030	25,210	827,310	461,550
2021-10-15	$74.94	$67.00	80.1%	22.6%	52.0%	29.4%	81.5%	-7.4%	-1.2%	47.4M	-1.99B	-11.1M	0.41	20.42	N/A	N/A	167,300	67,950	839,750	465,940
2021-10-18	$74.21	$67.00	74.0%	21.2%	45.5%	24.3%	76.3%	-4.2%	-1.1%	27.2M	-1.64B	-10.7M	0.61	24.85	N/A	N/A	65,410	40,230	720,520	361,670
2021-10-19	$73.03	$69.00	69.8%	20.0%	45.9%	20.8%	72.5%	-4.1%	0.9%	28.2M	-1.51B	-10.5M	0.44	29.16	N/A	N/A	107,440	47,480	772,260	386,320
2021-10-20	$75.67	$70.00	70.6%	20.2%	45.9%	21.4%	73.2%	-4.6%	-1.2%	43.3M	-1.88B	-11.2M	0.38	28.96	N/A	N/A	190,520	73,330	840,390	423,800
2021-10-21	$73.45	$70.00	68.5%	19.6%	48.0%	19.7%	72.7%	-5.8%	-0.3%	26.6M	-1.55B	-10.8M	0.94	25.51	N/A	N/A	95,750	90,150	849,910	444,540
2021-10-22	$71.47	$70.00	66.0%	18.9%	48.0%	17.6%	69.7%	-5.3%	0.0%	8.0M	-1.21B	-10.5M	1.00	27.67	N/A	N/A	100,100	99,700	862,670	477,210
2021-10-25	$74.50	$70.00	65.3%	19.1%	48.8%	17.0%	69.8%	-6.6%	2.1%	25.0M	-1.59B	-10.9M	0.80	26.16	N/A	N/A	82,110	65,560	763,090	416,450
2021-10-26	$74.00	$70.00	65.8%	19.1%	47.3%	17.5%	68.8%	-4.8%	0.9%	25.7M	-1.56B	-10.9M	0.56	31.39	N/A	N/A	82,360	46,470	792,700	424,700
2021-10-27	$71.67	$70.00	63.7%	18.6%	48.9%	15.7%	67.5%	-6.2%	3.2%	16.6M	-1.25B	-10.2M	0.72	39.41	N/A	N/A	67,210	48,160	793,460	435,950
2021-10-28	$72.45	$70.00	65.6%	19.0%	48.8%	17.3%	69.7%	-6.2%	3.1%	19.9M	-1.36B	-10.6M	0.92	44.32	N/A	N/A	71,020	65,070	805,000	443,410
2021-10-29	$71.27	$70.00	68.3%	19.7%	47.3%	19.5%	71.4%	-7.0%	3.0%	12.5M	-1.26B	-10.6M	0.73	38.68	N/A	N/A	123,970	90,580	823,560	467,640