MSTR Options History — July 2022

In July 2022, MSTR traded between $16.59 and $28.62. ATM implied volatility averaged 122.5%, placing in the 37.6% IV rank vs the trailing year. The 30-day expected move averaged 34.9%. IV traded below realized volatility by 6.2% (HV 20d: 128.7%). Max pain ranged from $19.50 to $25.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 1 of 20 days. Put/call ratio averaged 1.06.

Notable Days

2022-07-08: Highest Volume — 436,690 contracts
2022-07-11: Largest IV spike — 9.0% change
2022-07-01: Highest IV Rank — 46.6%
2022-07-12: Largest Expected Move — 37.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$23.27	$16.59	$28.62	$16.59	$28.41
Max Pain	$21.68	$19.50	$25.00	$25.00	$25.00
ATM IV	122.5%	108.8%	136.7%	136.7%	108.8%
Expected Move	34.9%	31.9%	37.5%	36.9%	31.9%
HV 20d	128.7%	107.9%	159.4%	143.3%	113.3%
HV 60d	153.7%	145.9%	158.7%	145.9%	158.6%
IV Rank	37.6%	28.8%	46.6%	46.6%	28.8%
IV Percentile	83.8%	77.8%	90.1%	90.1%	77.8%
Term Structure	-2.2%	-5.8%	1.5%	1.5%	-1.0%
VWIV	130.6%	116.0%	145.5%	139.5%	116.0%
Skew 25d	25.7%	17.5%	34.9%	34.0%	19.0%
Skew 10d	52.9%	34.7%	73.2%	66.0%	37.4%
Call IV 25d	110.7%	101.1%	119.6%	118.7%	101.3%
Put IV 25d	136.5%	120.3%	154.5%	152.7%	120.3%
Bid-Ask Spread %	12.73	6.77	46.00	46.00	18.35
Gamma HHI	0.05	0.02	0.21	0.08	0.06
Net GEX	921.2K	-4.4M	6.1M	-4.4M	4.5M
Net DEX	-16.5M	-357.7M	275.7M	275.7M	-193.0M
Net VEX	-2.7M	-3.4M	-2.1M	-2.1M	-3.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.06	0.63	1.83	1.83	0.78
Total Volume	258,678	150,260	436,690	263,030	197,960
Total OI	1,353,340	1,043,590	1,525,220	1,507,260	1,369,770

Daily Data (20 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
2022-07-01	$16.59	$25.00	136.7%	36.9%	143.3%	46.6%	139.5%	34.0%	1.5%	-4.4M	275.7M	-2.1M	1.83	46.00	N/A	N/A	93,070	169,960	627,640	879,620
2022-07-05	$18.57	$19.50	126.8%	36.2%	149.4%	40.3%	127.2%	31.8%	-0.9%	-1.8M	161.4M	-2.2M	1.04	8.30	N/A	N/A	125,960	131,610	553,160	733,460
2022-07-06	$19.07	$20.00	125.2%	35.4%	148.9%	39.2%	137.1%	30.6%	-0.5%	-149.5K	131.5M	-2.3M	1.10	8.92	N/A	N/A	101,310	111,240	593,150	779,720
2022-07-07	$21.73	$20.00	116.4%	32.6%	157.1%	33.7%	118.8%	29.8%	-1.8%	2.5M	-32.7M	-2.5M	1.02	8.45	N/A	N/A	158,200	162,100	608,630	811,930
2022-07-08	$22.25	$20.00	121.4%	33.6%	157.3%	36.8%	127.7%	28.0%	-0.3%	5.2M	-66.0M	-2.5M	0.74	10.01	N/A	N/A	250,840	185,850	627,520	848,600
2022-07-11	$20.10	$20.00	132.3%	36.8%	159.4%	43.8%	145.5%	33.3%	-3.4%	-1.8M	135.0M	-2.4M	1.55	6.77	N/A	N/A	87,450	135,730	584,260	757,610
2022-07-12	$19.11	$21.00	136.5%	37.5%	158.7%	46.5%	140.5%	34.9%	-5.8%	-3.1M	184.7M	-2.2M	1.12	7.59	N/A	N/A	79,740	89,690	598,210	814,240
2022-07-13	$19.57	$21.00	129.5%	36.3%	113.7%	42.0%	131.6%	33.0%	-2.5%	-2.5M	160.9M	-2.3M	1.07	7.66	N/A	N/A	72,740	77,520	621,300	844,270
2022-07-14	$20.40	$21.00	123.1%	35.3%	113.9%	37.9%	134.1%	32.5%	-0.3%	-965.6K	110.6M	-2.3M	1.18	7.52	N/A	N/A	94,880	112,290	633,690	860,140
2022-07-15	$21.32	$20.00	113.5%	32.3%	110.9%	31.8%	131.3%	30.8%	-0.7%	258.0K	45.8M	-2.4M	0.91	7.39	N/A	N/A	113,930	103,110	643,990	881,230
2022-07-18	$22.53	$20.00	115.1%	32.9%	107.9%	32.8%	126.1%	25.6%	-2.8%	1.4M	-34.0M	-2.5M	1.47	9.12	N/A	N/A	119,030	175,210	500,080	543,510
2022-07-19	$26.58	$22.00	116.0%	33.1%	120.0%	33.4%	122.7%	17.5%	-2.9%	2.7M	-207.7M	-3.0M	0.63	10.13	N/A	N/A	243,590	154,070	522,650	611,400
2022-07-20	$28.62	$22.00	125.3%	35.9%	117.7%	39.3%	136.7%	17.5%	-4.9%	6.1M	-357.7M	-3.3M	0.80	16.19	N/A	N/A	239,550	191,100	650,110	665,980
2022-07-21	$28.60	$22.00	121.2%	34.9%	114.2%	36.7%	125.2%	17.6%	-4.0%	5.5M	-274.6M	-3.4M	0.94	13.05	N/A	N/A	129,370	121,830	643,890	737,990
2022-07-22	$27.94	$23.00	121.4%	35.2%	113.0%	36.9%	130.0%	18.9%	-4.7%	2.0M	-193.7M	-3.2M	0.91	14.60	N/A	N/A	144,870	132,230	662,340	760,020
2022-07-25	$26.40	$23.00	124.1%	36.4%	113.5%	38.6%	131.6%	21.8%	-3.3%	1.0M	-65.1M	-3.0M	1.03	12.62	N/A	N/A	108,890	111,680	576,390	603,860
2022-07-26	$23.79	$23.00	124.9%	36.7%	120.3%	39.1%	130.7%	20.2%	-1.0%	-2.4M	89.6M	-2.7M	1.18	12.15	N/A	N/A	94,870	111,730	613,280	657,710
2022-07-27	$26.30	$23.00	118.3%	34.4%	121.7%	34.8%	127.5%	20.1%	-2.2%	831.4K	-58.3M	-3.0M	1.01	15.94	N/A	N/A	92,300	93,410	630,710	678,950
2022-07-28	$27.52	$23.00	114.7%	33.8%	119.7%	32.6%	131.5%	17.8%	-1.4%	3.5M	-142.7M	-3.1M	0.91	13.81	N/A	N/A	133,020	121,630	641,650	694,140
2022-07-29	$28.41	$25.00	108.8%	31.9%	113.3%	28.8%	116.0%	19.0%	-1.0%	4.5M	-193.0M	-3.1M	0.78	18.35	N/A	N/A	111,440	86,520	658,710	711,060