MSTR Options History — December 2023

In December 2023, MSTR traded between $52.80 and $67.31. ATM implied volatility averaged 70.5%, placing in the 30.7% IV rank vs the trailing year. The 30-day expected move averaged 20.4%. IV traded above realized volatility by 12.2% (HV 20d: 58.3%). Max pain ranged from $34.00 to $45.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 0.87.

Notable Days

  • 2023-12-29: Highest Volume — 899,960 contracts
  • 2023-12-04: Largest IV spike — 14.7% change
  • 2023-12-28: Highest IV Rank — 65.5%
  • 2023-12-28: Largest Expected Move — 25.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$58.77$52.80$67.31$52.80$63.33
Max Pain$38.55$34.00$45.00$45.00$43.00
ATM IV70.5%60.2%87.9%60.2%81.2%
Expected Move20.4%17.4%25.4%17.4%23.6%
HV 20d58.3%52.6%68.2%52.8%68.2%
HV 60d55.8%52.5%59.9%52.5%59.9%
IV Rank30.7%10.0%65.5%10.0%52.0%
IV Percentile43.7%11.9%81.0%11.9%67.9%
Term Structure0.8%-1.6%2.9%2.3%1.5%
VWIV73.9%64.4%89.9%64.4%83.7%
Skew 25d-6.9%-11.8%-4.1%-5.1%-10.7%
Skew 10d-11.9%-18.7%-8.1%-8.6%-18.7%
Call IV 25d76.1%64.0%95.9%64.0%88.6%
Put IV 25d69.2%58.9%84.5%58.9%77.9%
Bid-Ask Spread %43.9435.8962.3862.3843.79
Gamma HHI0.070.040.200.120.05
Net GEX22.6M2.3M52.7M37.8M2.3M
Net DEX-1.95B-2.85B-1.51B-1.73B-1.97B
Net VEX-7.1M-8.0M-6.5M-6.5M-7.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.870.561.180.731.04
Total Volume365,163.5124,220899,960406,200899,960
Total OI1,693,2821,369,9801,952,1001,734,4601,952,100

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-12-01$52.80$45.0060.2%17.4%52.8%10.0%64.4%-5.1%2.3%37.8M-1.73B-6.5M0.7362.38N/AN/A234,780171,420811,600922,860
2023-12-04$56.68$34.0069.1%20.4%57.3%27.8%74.4%-6.5%2.9%26.9M-1.99B-6.8M1.1835.89N/AN/A189,110223,500732,420843,320
2023-12-05$57.72$35.0068.9%20.4%57.3%27.3%73.5%-6.8%1.8%25.6M-2.06B-7.0M0.7938.10N/AN/A178,340141,300766,230931,470
2023-12-06$57.05$35.0066.1%19.7%57.6%21.9%70.7%-5.2%2.0%18.0M-1.89B-7.0M0.7840.31N/AN/A127,56099,290794,410982,080
2023-12-07$56.76$35.0065.8%19.3%57.8%21.2%71.5%-5.8%1.8%13.7M-1.82B-7.0M1.0341.35N/AN/A97,610100,620830,9101,004,480
2023-12-08$59.57$36.0063.8%19.0%59.0%17.3%68.2%-5.5%2.7%50.1M-2.28B-7.0M0.8541.01N/AN/A197,820167,590848,9301,043,390
2023-12-11$55.45$36.0067.4%19.3%64.1%24.4%71.0%-4.1%-0.4%5.0M-1.51B-6.7M0.9942.83N/AN/A162,140160,190732,210934,360
2023-12-12$55.77$38.0067.2%19.5%63.8%23.9%69.3%-5.5%0.4%5.5M-1.58B-7.0M0.7742.06N/AN/A70,08054,140761,6301,000,380
2023-12-13$58.38$38.0065.6%18.7%60.7%20.7%67.6%-5.0%-0.5%23.2M-2.02B-7.0M0.9149.70N/AN/A142,690129,180780,6301,015,720
2023-12-14$58.15$39.0066.0%18.9%57.2%21.7%67.5%-5.5%-0.1%24.3M-1.98B-7.0M1.0646.20N/AN/A105,390111,760805,4801,028,080
2023-12-15$56.83$39.0065.2%18.7%55.9%20.0%69.0%-5.6%-0.2%2.3M-1.72B-7.0M1.0148.91N/AN/A123,280124,830827,5001,060,600
2023-12-18$57.32$39.0067.9%19.3%55.8%25.4%70.5%-5.3%-1.6%14.3M-1.56B-7.0M0.9040.35N/AN/A87,70078,900637,650732,330
2023-12-19$57.19$39.0068.3%19.5%54.3%26.1%70.5%-5.9%-0.4%15.5M-1.58B-7.1M1.0642.98N/AN/A94,50099,950670,720760,270
2023-12-20$58.05$39.0070.9%20.3%52.9%31.4%73.6%-7.2%1.0%17.6M-1.71B-7.2M0.5648.02N/AN/A231,740129,380694,120793,520
2023-12-21$58.31$39.0071.9%20.6%52.6%33.5%75.9%-6.4%0.7%14.3M-1.68B-7.3M0.8244.72N/AN/A113,62093,560749,440847,270
2023-12-22$61.58$40.0075.6%21.6%55.2%40.8%78.4%-8.7%0.5%52.7M-2.33B-7.2M0.7845.70N/AN/A404,480315,040769,370873,030
2023-12-26$60.36$40.0075.8%21.9%54.3%41.3%79.9%-9.4%1.5%20.1M-1.86B-7.3M0.8845.89N/AN/A162,270143,030705,850801,510
2023-12-27$67.31$40.0085.8%25.0%64.8%61.3%89.2%-11.8%0.4%39.1M-2.85B-7.6M0.7337.24N/AN/A426,450311,120740,500857,350
2023-12-28$66.87$42.0087.9%25.4%64.9%65.5%89.9%-11.4%-0.4%42.7M-2.83B-8.0M0.6241.32N/AN/A368,620230,330854,160967,760
2023-12-29$63.33$43.0081.2%23.6%68.2%52.0%83.7%-10.7%1.5%2.3M-1.97B-7.9M1.0443.79N/AN/A441,670458,290903,8501,048,250