MSTR Options History — April 2023

In April 2023, MSTR traded between $28.78 and $34.22. ATM implied volatility averaged 84.5%, placing in the 8.2% IV rank vs the trailing year. The 30-day expected move averaged 23.9%. IV traded below realized volatility by 3.5% (HV 20d: 87.9%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 14 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 1.23.

Notable Days

  • 2023-04-11: Highest Volume — 282,770 contracts
  • 2023-04-28: Largest IV drop — 5.7% change
  • 2023-04-05: Highest IV Rank — 15.3%
  • 2023-04-10: Largest Expected Move — 25.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.01$28.78$34.22$29.84$32.62
Max Pain$27.26$25.00$30.00$25.00$30.00
ATM IV84.5%75.2%91.9%87.7%75.2%
Expected Move23.9%21.3%25.9%23.9%21.3%
HV 20d87.9%64.3%114.0%114.0%64.3%
HV 60d89.0%86.9%91.6%91.6%86.9%
IV Rank8.2%0.0%15.3%12.5%0.0%
IV Percentile13.6%0.0%34.9%20.6%0.0%
Term Structure-0.2%-2.6%2.1%1.7%-0.9%
VWIV87.3%78.2%97.1%90.2%78.2%
Skew 25d5.2%2.1%7.4%7.4%6.3%
Skew 10d10.9%3.9%17.4%17.4%12.2%
Call IV 25d83.7%73.5%90.8%87.7%73.5%
Put IV 25d88.9%79.8%98.2%95.1%79.8%
Bid-Ask Spread %29.5518.8939.8125.3827.90
Gamma HHI0.050.020.090.050.08
Net GEX4.3M-11.6M13.7M8.2M12.7M
Net DEX-425.1M-768.5M-54.6M-470.2M-519.4M
Net VEX-3.4M-3.6M-3.3M-3.4M-3.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.230.871.561.351.12
Total Volume193,483.684110,330282,770131,040269,390
Total OI1,312,756.3161,112,1101,576,5101,210,4001,367,190

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-04-03$29.84$25.0087.7%23.9%114.0%12.5%90.2%7.4%1.7%8.2M-470.2M-3.4M1.3525.38N/AN/A55,66075,380509,770700,630
2023-04-04$29.77$25.0088.0%24.0%113.4%12.7%88.1%7.3%1.7%8.4M-461.9M-3.4M1.3529.45N/AN/A47,01063,320524,460736,570
2023-04-05$29.29$26.0091.9%24.8%113.7%15.3%90.1%7.4%0.3%7.4M-409.6M-3.4M0.9927.50N/AN/A68,29067,290529,370768,000
2023-04-06$29.12$25.0090.8%25.7%107.6%13.3%93.7%7.2%-0.9%6.5M-400.3M-3.3M0.8921.77N/AN/A95,64085,030548,600795,030
2023-04-10$30.94$25.0090.9%25.9%98.6%13.4%97.1%6.5%-0.6%7.3M-493.6M-3.3M1.2018.89N/AN/A109,990132,050497,370614,740
2023-04-11$32.94$25.0090.1%25.7%85.5%12.8%92.7%5.5%-1.1%11.6M-690.4M-3.6M0.8726.70N/AN/A151,100131,670540,010679,620
2023-04-12$32.50$27.0087.7%25.0%86.0%11.2%91.3%6.8%-0.9%9.7M-618.5M-3.6M1.3730.17N/AN/A66,13090,300568,800747,420
2023-04-13$34.22$27.0084.8%24.2%86.7%9.3%86.2%5.3%-0.4%13.7M-768.5M-3.6M1.3127.53N/AN/A106,230139,170572,030787,170
2023-04-14$33.59$27.0083.8%23.5%86.2%8.6%84.5%5.1%-2.6%9.6M-647.2M-3.6M1.0132.56N/AN/A125,120125,900588,690848,760
2023-04-17$31.36$27.0083.8%23.8%83.5%8.6%86.8%5.1%-0.8%1.1M-402.4M-3.5M1.4629.73N/AN/A68,730100,490527,090767,200
2023-04-18$32.96$27.0082.8%23.6%83.6%7.7%84.4%3.4%2.1%4.7M-531.6M-3.6M1.2633.21N/AN/A65,40082,110542,860824,530
2023-04-19$31.73$28.0080.5%23.1%84.4%6.2%85.8%3.4%2.0%-151.0K-409.7M-3.5M1.3235.83N/AN/A62,72082,720565,630863,940
2023-04-20$29.61$28.0082.3%23.6%81.6%7.4%85.9%3.5%0.6%-10.5M-148.8M-3.3M1.5439.67N/AN/A89,010137,520580,380900,090
2023-04-21$28.89$28.0078.6%22.4%81.7%4.6%81.7%2.1%0.9%-11.6M-54.6M-3.3M1.4839.81N/AN/A82,290122,180607,560968,950
2023-04-24$28.78$29.0080.8%23.1%81.5%3.2%82.9%3.2%-1.0%-4.4M-153.1M-3.3M1.1733.36N/AN/A54,71064,040482,470674,880
2023-04-25$29.14$29.0082.0%23.7%76.9%3.2%84.2%3.0%-1.3%-2.3M-197.9M-3.3M1.2527.97N/AN/A67,70084,690504,700695,860
2023-04-26$30.07$30.0083.3%24.2%77.2%4.1%88.8%3.5%-1.6%1.9M-285.6M-3.4M0.9728.67N/AN/A125,250122,030516,490704,880
2023-04-27$31.73$30.0079.7%22.6%64.3%1.6%86.4%6.6%-1.4%7.4M-413.8M-3.5M1.5625.41N/AN/A101,710158,220537,720752,910
2023-04-28$32.62$30.0075.2%21.3%64.3%0.0%78.2%6.3%-0.9%12.7M-519.4M-3.5M1.1227.90N/AN/A127,280142,110561,900805,290