MSTR Options History — February 2025

In February 2025, MSTR traded between $240.68 and $348.00. ATM implied volatility averaged 79.1%, placing in the 7.2% IV rank vs the trailing year. The 30-day expected move averaged 22.9%. IV traded above realized volatility by 20.8% (HV 20d: 58.3%). Max pain ranged from $300.00 to $320.00. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 16 of 19 days. Put/call ratio averaged 0.65.

Notable Days

  • 2025-02-21: Highest Volume — 897,578 contracts
  • 2025-02-21: Largest IV spike — 13.4% change
  • 2025-02-03: Highest IV Rank — 16.6%
  • 2025-02-27: Largest Expected Move — 25.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$310.36$240.68$348.00$342.90$252.59
Max Pain$315.79$300.00$320.00$315.00$300.00
ATM IV79.1%69.8%90.0%90.0%86.5%
Expected Move22.9%19.9%25.9%25.3%24.9%
HV 20d58.3%43.9%91.5%91.5%68.2%
HV 60d108.6%88.2%128.0%128.0%89.0%
IV Rank7.2%0.0%16.6%16.6%11.0%
IV Percentile11.8%0.0%31.7%31.7%22.6%
Term Structure0.8%-1.0%2.4%2.4%0.3%
VWIV85.7%74.8%94.8%93.2%92.1%
Skew 25d-4.3%-11.9%7.7%-7.9%6.1%
Skew 10d-7.4%-25.0%20.8%-14.0%18.5%
Call IV 25d84.2%74.4%98.1%98.1%86.4%
Put IV 25d79.9%67.7%95.6%90.2%92.5%
Bid-Ask Spread %13.879.4819.5911.2211.31
Gamma HHI0.060.030.210.040.05
Net GEX86.6M-131.3M369.7M133.4M47.7M
Net DEX-10.06B-15.44B-2.31B-14.07B-4.78B
Net VEX-61.3M-68.2M-52.1M-67.2M-55.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.650.431.010.770.56
Total Volume495,858.632218,755897,578361,387848,473
Total OI2,204,493.1051,943,8572,513,7801,998,4492,297,178

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-02-03$342.90$315.0090.0%25.3%91.5%16.6%93.2%-7.9%2.4%133.4M-14.07B-67.2M0.7711.22N/AN/A204,246157,1411,105,078893,371
2025-02-04$348.00$315.0088.4%24.7%78.2%15.6%91.8%-7.2%0.8%176.6M-15.13B-68.2M0.9012.92N/AN/A115,276103,4791,156,415934,194
2025-02-05$334.80$315.0087.8%25.0%68.4%15.2%93.8%-6.8%0.5%113.7M-12.83B-66.1M0.7611.01N/AN/A186,927141,3731,183,296960,721
2025-02-06$326.08$310.0078.2%23.0%55.3%9.1%84.9%-5.0%0.6%19.8M-10.77B-62.4M0.4314.85N/AN/A385,055167,3221,228,7831,004,029
2025-02-07$331.71$310.0077.7%23.0%55.7%8.8%84.3%-5.4%1.9%118.4M-12.29B-63.7M0.5715.24N/AN/A420,506240,8741,312,7661,033,329
2025-02-10$332.00$320.0076.1%22.4%55.7%7.7%83.9%-5.0%1.6%135.4M-12.19B-62.9M0.5714.14N/AN/A159,25590,7311,131,179919,378
2025-02-11$320.10$320.0075.3%21.9%56.4%3.2%81.3%-4.9%0.9%69.4M-10.13B-60.8M0.5616.37N/AN/A230,322129,0331,187,431947,084
2025-02-12$328.67$320.0070.1%20.5%54.4%0.0%74.8%-5.1%1.8%142.0M-12.08B-63.1M0.7019.59N/AN/A162,832113,6651,252,719974,723
2025-02-13$325.94$320.0071.0%20.8%50.0%0.6%75.6%-4.5%1.4%95.6M-11.64B-62.4M0.4916.32N/AN/A279,244136,1851,279,411985,320
2025-02-14$339.71$320.0070.3%20.5%51.9%0.1%79.8%-8.8%2.0%369.7M-15.44B-64.3M0.5011.45N/AN/A557,601278,2581,329,3631,032,672
2025-02-18$333.22$320.0071.2%20.5%43.9%0.7%75.4%-9.6%0.9%204.7M-13.64B-62.1M0.659.48N/AN/A244,120158,5371,228,413941,580
2025-02-19$319.09$320.0071.9%20.6%45.5%1.2%81.0%-11.6%0.3%73.5M-11.05B-62.8M0.6518.67N/AN/A226,890147,2471,305,285982,056
2025-02-20$323.50$320.0069.8%19.9%45.6%0.0%77.1%-11.9%1.1%81.5M-12.28B-64.0M0.5211.62N/AN/A287,547149,1901,374,0191,019,699
2025-02-21$302.86$320.0079.1%22.6%49.9%6.2%91.5%-8.0%0.5%-131.3M-6.83B-61.8M0.5815.22N/AN/A568,306329,2721,453,5321,060,248
2025-02-24$287.13$320.0078.9%22.7%47.2%6.0%87.2%-4.5%0.8%27.2M-6.83B-59.2M0.9312.41N/AN/A210,773196,2631,140,388803,469
2025-02-25$252.79$320.0085.6%25.0%62.6%10.5%92.4%5.1%-0.3%-22.0M-3.07B-52.2M1.0117.10N/AN/A377,124380,1331,195,132841,181
2025-02-26$255.09$310.0086.0%25.1%63.2%10.7%92.4%5.5%-1.0%14.3M-3.80B-54.0M0.7311.41N/AN/A271,600198,5131,287,881881,941
2025-02-27$240.68$305.0089.3%25.9%64.3%12.9%94.8%7.7%-0.5%-24.5M-2.31B-52.1M0.5213.28N/AN/A374,911193,0901,297,966924,139
2025-02-28$252.59$300.0086.5%24.9%68.2%11.0%92.1%6.1%0.3%47.7M-4.78B-55.4M0.5611.31N/AN/A544,062304,4111,385,824911,354