MSTR Options History — November 2023

In November 2023, MSTR traded between $42.64 and $51.45. ATM implied volatility averaged 63.1%, placing in the 8.7% IV rank vs the trailing year. The 30-day expected move averaged 18.1%. IV traded above realized volatility by 4.3% (HV 20d: 58.8%). Max pain ranged from $34.00 to $44.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.81.

Notable Days

  • 2023-11-09: Highest Volume — 571,680 contracts
  • 2023-11-09: Largest IV spike — 11.4% change
  • 2023-11-15: Highest IV Rank — 18.8%
  • 2023-11-01: Largest Expected Move — 20.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$48.71$42.64$51.45$42.64$49.65
Max Pain$39.12$34.00$44.00$38.50$44.00
ATM IV63.1%57.9%71.4%69.3%57.9%
Expected Move18.1%16.0%20.7%20.7%16.0%
HV 20d58.8%50.7%68.2%60.8%52.3%
HV 60d53.7%50.9%55.4%54.5%51.2%
IV Rank8.7%4.9%18.8%11.9%5.4%
IV Percentile17.3%3.6%42.5%34.9%3.6%
Term Structure0.8%-1.3%2.6%0.7%2.6%
VWIV66.1%57.4%75.1%75.1%57.4%
Skew 25d-3.4%-6.0%0.5%0.5%-4.2%
Skew 10d-5.5%-9.6%2.9%2.9%-7.6%
Call IV 25d66.5%61.5%76.4%69.8%61.5%
Put IV 25d63.1%57.3%71.7%70.3%57.3%
Bid-Ask Spread %60.1635.2866.5335.2863.44
Gamma HHI0.070.030.210.040.04
Net GEX19.5M2.3M42.9M15.1M2.3M
Net DEX-1.38B-1.82B-994.9M-994.9M-1.17B
Net VEX-6.0M-6.5M-5.2M-5.2M-6.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.810.461.280.850.73
Total Volume254,194.762141,160571,680169,020211,260
Total OI1,616,375.2381,447,1001,862,4301,552,7501,682,990

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-11-01$42.64$38.5069.3%20.7%60.8%11.9%75.1%0.5%0.7%15.1M-994.9M-5.2M0.8535.28N/AN/A91,39077,630710,080842,670
2023-11-02$45.14$34.0064.6%19.3%62.6%7.9%70.9%-1.1%1.2%29.6M-1.30B-5.4M0.6655.97N/AN/A193,940127,780728,400869,230
2023-11-03$45.16$34.0062.0%18.4%61.8%5.8%69.3%-2.1%0.9%36.9M-1.34B-5.3M1.2457.31N/AN/A153,730191,260764,760922,170
2023-11-06$46.02$35.0061.3%18.1%61.7%5.1%65.8%-1.8%1.6%17.7M-1.22B-5.3M1.2860.21N/AN/A70,89090,500658,490788,610
2023-11-07$47.18$35.0061.3%17.7%61.6%5.2%65.2%-2.4%-0.2%19.9M-1.34B-5.3M0.8363.02N/AN/A87,69072,430670,790818,600
2023-11-08$47.29$35.0061.0%17.8%60.5%4.9%67.1%-1.4%0.6%21.7M-1.37B-5.4M0.8963.40N/AN/A75,48067,270693,830845,340
2023-11-09$48.76$36.0068.0%19.3%57.7%10.8%70.1%-2.6%-0.6%28.3M-1.59B-5.6M0.5460.33N/AN/A371,970199,710717,000879,910
2023-11-10$51.02$37.0068.0%19.4%56.7%10.8%70.5%-3.3%-0.4%22.2M-1.82B-6.0M0.6256.12N/AN/A205,230126,260785,150964,650
2023-11-13$50.35$38.0068.4%19.6%58.1%14.3%71.4%-2.6%0.0%17.7M-1.54B-5.8M0.9559.45N/AN/A85,60081,620691,820834,240
2023-11-14$47.49$39.0066.1%19.0%64.6%12.0%68.9%-2.1%2.6%9.0M-1.21B-5.8M0.8762.67N/AN/A163,950142,190722,130876,240
2023-11-15$50.69$40.0071.4%20.5%65.0%18.8%73.4%-4.8%-0.0%23.1M-1.68B-6.3M0.4659.94N/AN/A256,820117,470761,900935,650
2023-11-16$48.81$40.0067.1%19.2%67.8%14.7%71.2%-3.8%1.4%15.1M-1.40B-6.4M0.9559.01N/AN/A141,760134,540819,870962,800
2023-11-17$48.71$41.0062.1%17.7%68.2%8.5%64.9%-3.1%1.6%9.8M-1.34B-6.3M0.7762.11N/AN/A137,980105,830835,8301,026,600
2023-11-20$50.88$41.0060.5%17.1%64.5%6.5%61.5%-4.4%-0.1%18.1M-1.42B-6.4M0.8858.87N/AN/A142,760124,950680,470797,350
2023-11-21$49.50$41.0059.8%16.7%53.2%5.6%60.4%-4.7%-0.3%9.5M-1.25B-6.2M0.9066.02N/AN/A109,44098,140727,410844,360
2023-11-22$50.67$42.0059.5%16.8%53.4%5.2%59.8%-6.0%-0.1%23.1M-1.44B-6.4M0.7265.46N/AN/A139,590100,840759,900871,830
2023-11-24$51.45$42.0059.8%16.9%50.7%6.7%62.2%-5.1%-1.3%42.9M-1.61B-6.3M0.4962.76N/AN/A207,630102,600796,570911,330
2023-11-27$49.88$42.0058.9%16.7%51.6%6.8%61.4%-4.8%1.6%14.5M-1.27B-6.3M0.8862.14N/AN/A101,38089,430721,810792,210
2023-11-28$50.84$43.0060.3%17.0%51.0%9.6%62.3%-5.5%2.1%17.1M-1.40B-6.4M0.6363.34N/AN/A121,24076,750748,420833,080
2023-11-29$50.77$44.0058.7%16.6%51.1%6.5%59.8%-5.7%2.6%16.3M-1.36B-6.5M0.8266.53N/AN/A77,52063,640781,950867,440
2023-11-30$49.65$44.0057.9%16.0%52.3%5.4%57.4%-4.2%2.6%2.3M-1.17B-6.4M0.7363.44N/AN/A122,39088,870790,070892,920