MSTR Options History — January 2023

In January 2023, MSTR traded between $14.45 and $25.90. ATM implied volatility averaged 89.9%, placing in the 14.2% IV rank vs the trailing year. The 30-day expected move averaged 26.2%. IV traded above realized volatility by 7.0% (HV 20d: 82.9%). Max pain ranged from $16.00 to $22.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 1.20.

Notable Days

  • 2023-01-04: Highest Volume — 501,050 contracts
  • 2023-01-20: Largest IV drop — 7.2% change
  • 2023-01-18: Highest IV Rank — 20.2%
  • 2023-01-18: Largest Expected Move — 28.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.34$14.45$25.90$14.45$25.08
Max Pain$19.36$16.00$22.00$18.75$22.00
ATM IV89.9%82.7%99.4%89.7%89.4%
Expected Move26.2%23.8%28.5%24.7%27.6%
HV 20d82.9%62.6%92.1%62.6%78.4%
HV 60d99.1%94.3%101.9%94.3%100.5%
IV Rank14.2%9.2%20.2%15.5%13.6%
IV Percentile34.5%19.0%53.6%36.5%34.9%
Term Structure-0.6%-3.9%2.5%0.2%1.4%
VWIV94.4%88.0%101.5%88.7%100.5%
Skew 25d12.2%8.0%16.7%16.3%9.2%
Skew 10d22.9%15.9%32.6%25.3%15.9%
Call IV 25d85.7%76.1%95.3%83.9%87.0%
Put IV 25d97.9%91.5%107.4%100.2%96.2%
Bid-Ask Spread %19.4811.6629.7129.7120.76
Gamma HHI0.060.040.170.060.04
Net GEX5.5M-3.0M13.0M-3.0M3.1M
Net DEX-151.4M-497.5M330.2M330.2M-211.4M
Net VEX-1.9M-2.1M-1.5M-1.5M-2.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.200.452.001.601.16
Total Volume258,51486,920501,050243,740109,780
Total OI1,718,519977,2902,218,1101,929,4901,081,080

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-01-03$14.45$18.7589.7%24.7%62.6%15.5%88.7%16.3%0.2%-3.0M330.2M-1.5M1.6029.71N/AN/A93,710150,030990,710938,780
2023-01-04$16.15$18.5087.3%25.2%73.2%14.0%91.7%12.7%2.5%3.1M123.4M-1.8M1.0027.01N/AN/A249,900251,1501,030,120987,530
2023-01-05$15.68$17.0088.2%25.9%73.0%13.2%93.3%16.7%0.0%286.2K227.6M-1.8M0.9526.22N/AN/A91,18087,0501,055,6401,107,220
2023-01-06$16.05$16.5086.5%25.3%73.9%11.7%90.6%16.6%0.4%1.4M172.2M-1.8M1.6423.39N/AN/A171,330281,1701,094,4001,123,710
2023-01-09$17.48$16.5087.5%25.5%80.6%12.4%89.9%13.3%0.3%5.1M41.5M-1.8M1.2218.16N/AN/A127,350155,120990,930966,850
2023-01-10$18.86$16.0082.7%23.8%85.8%9.2%88.0%15.5%0.2%8.6M-116.8M-1.9M1.2016.31N/AN/A100,830121,4401,009,2301,014,440
2023-01-11$19.51$16.5087.3%25.1%86.6%12.3%92.3%15.2%-1.0%9.6M-194.4M-2.0M0.4516.86N/AN/A248,350111,8601,022,9001,063,980
2023-01-12$21.27$17.0092.2%26.8%91.6%15.5%97.7%12.3%0.3%9.4M-384.8M-1.9M0.7816.45N/AN/A181,490140,990976,2801,106,650
2023-01-13$21.93$19.5096.7%27.5%92.1%18.4%101.5%11.8%-0.3%10.6M-431.3M-2.0M1.3011.66N/AN/A160,470208,330990,7701,134,910
2023-01-17$23.67$20.0097.2%27.8%90.1%18.8%97.7%8.0%-3.0%7.5M-497.5M-2.0M0.8312.24N/AN/A200,370166,820935,2101,023,140
2023-01-18$22.07$20.0099.4%28.5%90.2%20.2%101.1%12.3%-3.9%6.4M-212.6M-2.0M1.0717.47N/AN/A163,730175,450961,7201,104,110
2023-01-19$22.30$20.0095.1%27.4%88.8%17.4%96.6%11.0%-3.0%5.1M-142.5M-2.0M1.0115.40N/AN/A93,38094,270949,4501,160,310
2023-01-20$23.75$20.0088.3%25.4%90.3%12.9%89.9%9.3%-2.8%13.0M-333.2M-2.0M1.0518.35N/AN/A140,250147,240967,2101,180,070
2023-01-23$24.93$20.0087.9%26.0%90.6%12.7%92.1%10.2%-0.6%5.8M-293.4M-2.0M1.5115.87N/AN/A87,760132,500440,160537,130
2023-01-24$24.53$21.0089.6%26.2%90.7%13.8%94.6%10.9%-1.6%4.6M-222.6M-2.0M1.5916.35N/AN/A33,58053,340440,000605,170
2023-01-25$24.49$22.0087.0%25.7%89.9%12.1%93.1%9.2%0.5%4.5M-213.9M-2.0M1.3024.05N/AN/A70,70092,100444,210632,940
2023-01-26$24.32$22.0086.4%25.4%79.2%11.6%92.9%11.1%0.1%3.7M-179.3M-2.0M1.4018.95N/AN/A49,20069,090453,880670,650
2023-01-27$25.90$22.0088.0%26.5%72.1%12.7%94.7%10.1%-1.9%8.3M-322.8M-2.1M0.8523.41N/AN/A113,65096,370462,400704,490
2023-01-30$24.36$22.0092.3%27.9%78.8%15.5%100.3%11.7%0.2%2.4M-165.9M-2.1M2.0021.07N/AN/A49,70099,250430,890581,110
2023-01-31$25.08$22.0089.4%27.6%78.4%13.6%100.5%9.2%1.4%3.1M-211.4M-2.1M1.1620.76N/AN/A50,85058,930446,260634,820