MSTR Options History — May 2023

In May 2023, MSTR traded between $27.02 and $32.81. ATM implied volatility averaged 72.1%, placing in the 1.9% IV rank vs the trailing year. The 30-day expected move averaged 21.0%. IV traded below realized volatility by 8.7% (HV 20d: 80.8%). Max pain ranged from $28.00 to $30.00. Net GEX was positive for 9 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 1.38.

Notable Days

  • 2023-05-11: Highest Volume — 363,850 contracts
  • 2023-05-11: Largest IV spike — 7.7% change
  • 2023-05-12: Highest IV Rank — 6.0%
  • 2023-05-03: Largest Expected Move — 22.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$29.59$27.02$32.81$30.66$30.09
Max Pain$28.36$28.00$30.00$30.00$29.00
ATM IV72.1%67.5%77.9%76.4%68.6%
Expected Move21.0%19.2%22.8%22.7%20.2%
HV 20d80.8%67.4%87.7%67.4%75.5%
HV 60d88.7%87.1%90.1%87.1%87.9%
IV Rank1.9%0.0%6.0%0.9%0.8%
IV Percentile1.2%0.0%4.4%0.4%0.8%
Term Structure-0.0%-3.3%2.3%0.2%-1.6%
VWIV75.3%68.7%82.1%82.1%72.4%
Skew 25d4.0%2.5%5.5%4.4%4.3%
Skew 10d8.2%4.4%12.5%10.3%8.7%
Call IV 25d71.0%66.6%77.2%75.1%67.0%
Put IV 25d75.0%69.5%81.8%79.5%71.4%
Bid-Ask Spread %31.4520.4044.9428.2730.20
Gamma HHI0.040.020.110.030.06
Net GEX-1.6M-19.5M11.8M765.4K7.7M
Net DEX-196.2M-464.6M249.8M-270.9M-342.8M
Net VEX-3.4M-3.5M-3.2M-3.4M-3.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.380.832.281.421.35
Total Volume184,064.54573,730363,850210,440134,660
Total OI1,326,570.4551,132,8901,542,4801,172,6601,182,310

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$30.66$30.0076.4%22.7%67.4%0.9%82.1%4.4%0.2%765.4K-270.9M-3.4M1.4228.27N/AN/A86,820123,620500,240672,420
2023-05-02$32.73$30.0074.2%22.0%70.6%0.0%80.4%3.7%-0.3%6.1M-444.6M-3.5M1.7720.40N/AN/A102,510181,660521,200730,870
2023-05-03$30.32$30.0075.4%22.8%76.2%0.9%80.7%2.9%-0.0%-3.0M-196.5M-3.4M1.2223.00N/AN/A73,33089,110551,140799,010
2023-05-04$31.04$28.0073.9%21.8%76.3%0.0%79.7%4.4%0.6%-477.0K-264.5M-3.5M1.6135.76N/AN/A56,00090,080560,560831,070
2023-05-05$32.81$28.0068.7%20.3%78.4%0.0%72.6%5.0%0.9%11.8M-464.6M-3.5M1.4333.18N/AN/A98,170140,590570,430870,150
2023-05-08$29.86$28.0072.4%21.1%83.3%2.4%74.0%4.9%0.8%-5.3M-151.7M-3.4M1.3337.43N/AN/A92,650122,830511,690743,670
2023-05-09$30.27$28.0072.2%21.3%80.0%2.3%74.1%4.9%1.7%-4.7M-194.2M-3.5M1.5432.37N/AN/A68,140104,980538,410796,130
2023-05-10$31.63$28.0070.8%20.6%81.7%1.4%76.5%5.5%1.2%2.6M-357.4M-3.5M1.4539.48N/AN/A95,480138,140555,180821,160
2023-05-11$28.70$28.0076.3%22.1%85.8%5.0%80.4%4.8%0.7%-16.0M22.9M-3.4M1.5127.51N/AN/A145,000218,850571,610869,170
2023-05-12$27.02$28.0077.9%22.8%87.7%6.0%81.6%4.7%2.3%-19.5M249.8M-3.3M1.9329.05N/AN/A119,290229,960592,440903,870
2023-05-15$28.27$28.0077.6%22.4%87.1%5.9%81.1%4.6%-3.3%-7.3M-80.0M-3.3M1.2528.50N/AN/A70,40088,280531,450807,700
2023-05-16$27.50$28.0074.6%21.4%84.9%4.5%77.1%3.9%-1.7%-8.8M-22.9M-3.3M2.2830.92N/AN/A45,220103,230563,290832,540
2023-05-17$29.00$28.0073.0%20.9%86.9%3.3%73.8%2.5%0.3%-1.7M-188.4M-3.3M1.4933.55N/AN/A63,81095,260580,000877,130
2023-05-18$28.75$28.0072.0%20.7%83.5%2.5%73.1%2.7%-1.0%-1.5M-170.7M-3.3M1.1237.48N/AN/A78,04087,170598,110900,010
2023-05-19$28.70$28.0070.0%20.1%83.1%1.0%71.5%3.2%-0.9%-1.7M-154.5M-3.3M1.0444.94N/AN/A68,99072,090618,490923,990
2023-05-22$29.43$28.0069.0%20.1%83.6%0.2%74.5%3.8%0.5%3.2M-256.6M-3.3M1.4525.70N/AN/A48,68070,380487,790645,100
2023-05-23$29.02$28.0067.5%19.2%83.6%0.0%70.1%2.9%0.3%1.6M-220.2M-3.2M1.1424.45N/AN/A41,38047,200503,040669,520
2023-05-24$28.54$29.0068.1%19.6%83.0%0.5%68.7%3.6%1.0%-1.7M-164.4M-3.3M1.1335.68N/AN/A34,66039,070523,370697,860
2023-05-25$28.05$28.0069.7%20.2%80.4%1.7%71.1%4.3%0.6%-5.1M-116.9M-3.2M1.2635.73N/AN/A64,31081,250540,600732,380
2023-05-26$28.57$28.0068.7%19.5%79.9%0.9%69.2%3.0%0.3%676.6K-191.1M-3.3M0.8329.57N/AN/A95,10078,570554,780763,130
2023-05-30$29.99$28.0069.9%20.1%79.4%1.8%72.7%4.1%-2.9%6.3M-335.3M-3.4M0.8328.77N/AN/A89,80074,660492,120649,420
2023-05-31$30.09$29.0068.6%20.2%75.5%0.8%72.4%4.3%-1.6%7.7M-342.8M-3.3M1.3530.20N/AN/A57,30077,360518,040664,270