MSTR Options History — October 2025 In October 2025, MSTR traded between $256.90 and $356.62. ATM implied volatility averaged 64.2%, placing in the 11.6% IV rank vs the trailing year. The 30-day expected move averaged 18.4%. IV traded above realized volatility by 9.4% (HV 20d: 54.9%). Max pain ranged from $330.00 to $345.00. Net GEX was positive for 20 of 23 trading days. Term structure was in contango for 9 of 23 days. Put/call ratio averaged 0.57.
Notable Days 2025-10-02 : Highest Volume — 887,427 contracts2025-10-31 : Largest IV drop — 14.5% change2025-10-16 : Highest IV Rank — 17.5%2025-10-16 : Largest Expected Move — 21.1%Monthly Statistics Metric Avg Min Max Open Close Price $305.01 $256.90 $356.62 $336.42 $268.75 Max Pain $331.52 $330.00 $345.00 $345.00 $330.00 ATM IV 64.2% 57.4% 74.7% 57.9% 60.4% Expected Move 18.4% 15.4% 21.1% 15.4% 17.6% HV 20d 54.9% 45.8% 62.6% 45.8% 58.5% HV 60d 48.8% 47.4% 51.0% 47.5% 50.5% IV Rank 11.6% 7.7% 17.5% 8.0% 9.4% IV Percentile 38.3% 29.8% 51.2% 29.8% 34.5% Term Structure 0.0% -1.5% 2.7% 1.4% 2.7% VWIV 69.9% 59.3% 80.6% 61.4% 68.2% Skew 25d 7.6% -0.7% 15.4% 4.8% 7.4% Skew 10d 16.0% -2.5% 35.4% 13.6% 17.2% Call IV 25d 63.1% 56.6% 70.1% 57.3% 59.2% Put IV 25d 70.7% 62.1% 85.5% 62.1% 66.6% Bid-Ask Spread % 7.08 2.22 27.86 19.40 9.78 Gamma HHI 0.06 0.03 0.38 0.06 0.03 Net GEX 243.8M -29.4M 1.51B 618.4M 42.1M Net DEX -7.91B -21.16B -1.48B -15.64B -2.66B Net VEX -67.9M -79.2M -56.2M -72.3M -59.6M Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 0.57 0.27 0.91 0.33 0.42 Total Volume 498,084.435 245,251 887,427 716,384 762,477 Total OI 2,760,009.174 2,539,640 2,994,035 2,727,549 2,909,381
Daily Data (23 trading days) Date Price Max Pain ATM IV Exp Move HV 20d IV Rank VWIV Skew 25d Term Str GEX DEX VEX P/C Spread % Call Wall Put Wall Call Vol Put Vol Call OI Put OI 2025-10-01 $336.42 $345.00 57.9% 15.4% 45.8% 8.0% 61.4% 4.8% 1.4% 618.4M -15.64B -72.3M 0.33 19.40 N/A N/A 539,631 176,753 1,447,863 1,279,686 2025-10-02 $352.22 $340.00 59.2% 16.2% 48.0% 8.7% 59.3% 3.1% 0.1% 791.6M -21.16B -76.3M 0.27 27.86 N/A N/A 697,292 190,135 1,504,644 1,317,024 2025-10-03 $350.89 $340.00 59.4% 16.3% 47.4% 8.8% 65.6% 2.7% -0.3% 1.51B -19.83B -77.5M 0.38 15.47 N/A N/A 635,730 242,583 1,625,973 1,368,062 2025-10-06 $356.62 $330.00 61.9% 18.2% 47.2% 10.3% 75.3% -0.7% -0.2% 494.7M -16.46B -79.2M 0.63 2.86 N/A N/A 221,123 138,746 1,384,178 1,262,263 2025-10-07 $333.27 $330.00 63.6% 18.5% 53.6% 11.2% 73.5% 2.7% 0.9% 224.0M -10.88B -74.9M 0.67 2.77 N/A N/A 322,843 216,314 1,430,918 1,293,860 2025-10-08 $329.69 $330.00 63.1% 18.2% 53.7% 10.9% 68.9% 2.1% 0.5% 154.5M -9.99B -74.1M 0.37 2.22 N/A N/A 354,642 132,479 1,474,847 1,337,266 2025-10-09 $322.14 $330.00 63.0% 18.0% 54.3% 10.9% 66.5% 4.5% -0.4% 103.1M -8.60B -73.0M 0.52 2.84 N/A N/A 308,523 160,231 1,467,141 1,359,494 2025-10-10 $307.82 $330.00 68.5% 19.4% 56.3% 14.0% 70.3% 11.5% -0.1% -820.0K -5.73B -70.8M 0.56 3.08 N/A N/A 444,304 248,466 1,563,151 1,392,087 2025-10-13 $313.32 $330.00 62.2% 17.7% 56.8% 10.4% 65.5% 7.6% -0.2% 170.3M -7.52B -70.4M 0.57 3.31 N/A N/A 249,067 141,967 1,424,756 1,281,609 2025-10-14 $302.99 $330.00 67.4% 19.2% 57.3% 13.3% 71.0% 10.3% -0.4% 87.8M -5.68B -67.4M 0.72 4.19 N/A N/A 168,735 122,204 1,449,673 1,309,490 2025-10-15 $297.85 $330.00 66.2% 18.9% 57.5% 12.7% 69.1% 10.6% -0.3% 44.1M -4.63B -66.5M 0.65 3.34 N/A N/A 251,471 164,129 1,481,759 1,338,664 2025-10-16 $283.79 $330.00 74.7% 21.1% 55.4% 17.5% 75.7% 15.4% -0.8% -23.6M -2.75B -63.4M 0.80 4.93 N/A N/A 360,470 289,810 1,502,343 1,355,355 2025-10-17 $290.21 $330.00 71.1% 20.1% 56.5% 15.5% 76.6% 12.6% -1.4% 51.6M -4.82B -67.3M 0.61 3.89 N/A N/A 410,119 248,819 1,598,585 1,394,370 2025-10-20 $297.15 $330.00 65.7% 18.8% 57.5% 12.4% 69.2% 9.2% -1.4% 244.5M -6.93B -67.6M 0.91 3.38 N/A N/A 132,317 120,076 1,353,262 1,186,378 2025-10-21 $301.85 $330.00 63.8% 18.3% 57.7% 11.3% 71.5% 7.4% -1.1% 307.2M -7.84B -68.2M 0.61 4.02 N/A N/A 151,928 93,323 1,379,500 1,219,057 2025-10-22 $280.61 $330.00 70.9% 20.3% 62.6% 15.3% 75.3% 12.2% -1.5% 63.8M -3.69B -62.3M 0.75 6.09 N/A N/A 197,973 148,822 1,403,664 1,233,818 2025-10-23 $284.43 $330.00 65.4% 18.8% 58.0% 12.2% 70.0% 10.2% -1.4% 73.1M -4.06B -61.7M 0.40 4.91 N/A N/A 346,904 140,396 1,426,911 1,259,743 2025-10-24 $289.07 $330.00 61.4% 17.7% 57.8% 10.0% 69.6% 7.2% -1.0% 179.2M -5.48B -63.2M 0.55 4.69 N/A N/A 276,864 151,483 1,487,619 1,282,681 2025-10-27 $296.69 $330.00 57.4% 16.6% 55.2% 7.7% 61.7% 6.2% 2.2% 257.9M -6.98B -64.6M 0.59 7.83 N/A N/A 202,348 118,770 1,349,844 1,207,706 2025-10-28 $285.90 $330.00 60.6% 17.6% 56.4% 9.5% 68.9% 7.6% 1.0% 165.0M -5.31B -63.5M 0.53 6.82 N/A N/A 192,440 101,253 1,402,878 1,240,886 2025-10-29 $276.75 $330.00 62.8% 18.4% 54.1% 10.8% 73.2% 8.1% 1.1% 81.4M -3.84B -61.2M 0.73 9.97 N/A N/A 164,907 120,710 1,456,258 1,266,838 2025-10-30 $256.90 $330.00 70.6% 21.0% 54.5% 15.2% 80.6% 11.1% 0.8% -29.4M -1.48B -56.2M 0.62 9.22 N/A N/A 368,960 227,405 1,484,799 1,283,927 2025-10-31 $268.75 $330.00 60.4% 17.6% 58.5% 9.4% 68.2% 7.4% 2.7% 42.1M -2.66B -59.6M 0.42 9.78 N/A N/A 535,377 227,100 1,547,945 1,361,436
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