MSTR Options History — February 2023

In February 2023, MSTR traded between $24.42 and $29.87. ATM implied volatility averaged 88.8%, placing in the 13.3% IV rank vs the trailing year. The 30-day expected move averaged 25.6%. IV traded above realized volatility by 7.4% (HV 20d: 81.4%). Max pain ranged from $22.00 to $26.50. Net GEX was positive for 10 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 1.40.

Notable Days

  • 2023-02-02: Highest Volume — 372,250 contracts
  • 2023-02-02: Largest IV spike — 7.3% change
  • 2023-02-21: Highest IV Rank — 16.8%
  • 2023-02-21: Largest Expected Move — 27.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$27.17$24.42$29.87$27.23$26.24
Max Pain$24.87$22.00$26.50$22.00$26.50
ATM IV88.8%83.6%94.2%87.2%83.6%
Expected Move25.6%24.1%27.7%27.6%24.1%
HV 20d81.4%71.9%88.6%80.6%82.9%
HV 60d83.2%74.8%101.9%101.9%80.5%
IV Rank13.3%9.8%16.8%12.2%9.8%
IV Percentile31.0%16.3%44.8%25.4%16.3%
Term Structure-0.7%-3.0%0.9%0.9%-0.7%
VWIV90.7%84.9%101.3%101.3%85.8%
Skew 25d7.2%5.1%11.3%11.3%7.0%
Skew 10d13.9%10.3%20.8%20.8%13.4%
Call IV 25d86.9%81.1%92.8%84.2%81.1%
Put IV 25d94.1%88.0%99.6%95.5%88.0%
Bid-Ask Spread %26.0620.3231.6424.1324.66
Gamma HHI0.050.030.090.050.04
Net GEX613.5K-10.8M10.6M7.0M-3.1M
Net DEX-209.8M-516.4M90.5M-382.7M-85.6M
Net VEX-2.3M-2.5M-2.1M-2.2M-2.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.400.692.311.311.35
Total Volume192,828.421105,560372,250200,780115,020
Total OI1,206,195.7891,031,2801,430,8801,120,6201,074,040

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-02-01$27.23$22.0087.2%27.6%80.6%12.2%101.3%11.3%0.9%7.0M-382.7M-2.2M1.3124.13N/AN/A86,820113,960461,180659,440
2023-02-02$28.92$23.0093.6%26.7%75.9%16.4%96.8%6.0%-3.0%7.9M-516.4M-2.4M0.6929.63N/AN/A219,710152,540478,440715,900
2023-02-03$28.44$23.0091.1%26.3%74.7%14.7%92.7%5.5%-0.5%7.1M-424.4M-2.3M1.4728.94N/AN/A121,980179,560500,150779,290
2023-02-06$28.16$24.0091.3%26.2%76.0%14.9%94.7%7.7%0.5%3.8M-305.3M-2.3M2.3128.92N/AN/A49,010113,280448,270703,760
2023-02-07$28.20$25.0088.9%25.4%73.4%13.3%87.6%8.1%-1.9%3.1M-282.4M-2.3M1.3530.74N/AN/A48,14064,880459,490748,000
2023-02-08$27.80$25.0085.9%24.5%71.9%11.3%88.0%7.3%-1.4%2.6M-250.6M-2.3M0.8027.04N/AN/A77,27062,020471,220770,380
2023-02-09$25.04$25.0090.2%25.7%83.9%14.2%91.6%8.9%-0.3%-7.6M13.4M-2.2M1.9125.95N/AN/A81,530156,020488,290802,290
2023-02-10$24.42$25.0088.1%25.1%80.2%12.8%87.6%7.2%-0.8%-10.8M90.5M-2.2M2.0026.89N/AN/A73,980148,290512,480854,900
2023-02-13$24.88$25.0087.8%25.3%79.8%12.6%89.2%7.4%-1.6%-3.5M-35.3M-2.1M1.5723.96N/AN/A54,47085,520446,370734,570
2023-02-14$27.49$25.0085.5%24.5%82.9%11.1%86.9%6.2%-0.4%4.4M-263.0M-2.2M1.4325.97N/AN/A83,980119,850464,960770,610
2023-02-15$29.87$25.0086.6%24.8%81.8%11.8%89.2%5.4%-1.0%10.6M-478.5M-2.3M1.2431.64N/AN/A110,620137,500485,090809,720
2023-02-16$28.43$25.0091.1%26.2%84.9%14.8%91.4%8.8%0.1%5.4M-292.9M-2.5M0.7226.97N/AN/A142,600102,190498,000866,470
2023-02-17$29.18$25.0089.0%25.6%83.0%13.4%89.2%6.5%0.2%5.5M-357.9M-2.4M0.8929.11N/AN/A120,400107,620533,760897,120
2023-02-21$27.09$25.0094.2%27.7%86.8%16.8%97.4%7.7%-0.3%-1.5M-135.1M-2.3M1.2520.32N/AN/A63,37079,390444,400587,870
2023-02-22$26.77$26.0093.0%26.4%86.7%16.0%93.9%6.8%-1.7%-3.1M-107.0M-2.3M1.4521.95N/AN/A49,78072,140463,860632,520
2023-02-23$26.84$26.0088.4%24.8%86.7%13.0%88.6%7.2%0.3%-3.3M-113.0M-2.3M1.0722.11N/AN/A51,08054,480478,180661,330
2023-02-24$25.60$26.0086.4%24.3%88.6%11.7%84.9%6.3%-1.5%-7.9M-7.0M-2.3M2.0823.03N/AN/A73,640152,810496,070688,020
2023-02-27$25.68$26.0085.8%24.1%85.7%11.3%85.6%5.1%0.3%-4.9M-53.4M-2.3M1.7423.21N/AN/A50,52087,770427,290603,990
2023-02-28$26.24$26.5083.6%24.1%82.9%9.8%85.8%7.0%-0.7%-3.1M-85.6M-2.4M1.3524.66N/AN/A48,87066,150446,540627,500