MSTR Options History — March 2026 In March 2026, MSTR traded between $121.88 and $149.85. ATM implied volatility averaged 73.2%, placing in the 36.3% IV rank vs the trailing year. The 30-day expected move averaged 20.9%. IV traded below realized volatility by 9.7% (HV 20d: 82.9%). Max pain ranged from $135.00 to $150.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 0.72.
Notable Days 2026-03-13 : Highest Volume — 752,287 contracts2026-03-30 : Largest IV spike — 6.8% change2026-03-30 : Highest IV Rank — 44.2%2026-03-12 : Largest Expected Move — 23.5%Monthly Statistics Metric Avg Min Max Open Close Price $137.33 $121.88 $149.85 $137.74 $124.35 Max Pain $137.73 $135.00 $150.00 $140.00 $135.00 ATM IV 73.2% 66.8% 79.6% 77.8% 75.3% Expected Move 20.9% 15.5% 23.5% 22.5% 21.6% HV 20d 82.9% 61.6% 132.7% 131.2% 61.9% HV 60d 90.5% 88.5% 91.5% 88.7% 91.3% IV Rank 36.3% 28.4% 44.2% 41.9% 38.9% IV Percentile 69.1% 49.6% 86.1% 77.0% 77.4% Term Structure 0.9% -1.4% 4.0% -1.4% 0.2% VWIV 76.6% 69.6% 86.0% 84.4% 80.1% Skew 25d 10.1% 5.9% 12.4% 10.3% 12.4% Skew 10d 22.8% 13.6% 29.8% 25.5% 29.8% Call IV 25d 70.1% 65.0% 76.5% 75.0% 72.1% Put IV 25d 80.2% 72.0% 88.0% 85.4% 84.5% Bid-Ask Spread % 21.08 7.30 43.81 26.13 7.69 Gamma HHI 0.07 0.04 0.13 0.07 0.05 Net GEX 94.9M -41.6M 190.4M 117.8M 41.7M Net DEX -645.9M -3.62B 1.20B -1.29B 839.8M Net VEX -34.5M -38.1M -29.4M -36.1M -30.0M Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 0.72 0.42 1.15 0.91 0.55 Total Volume 414,009.227 219,272 752,287 338,116 380,373 Total OI 2,567,132.545 2,227,274 2,859,761 2,504,597 2,348,627
Daily Data (22 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 2026-03-02 $137.74 $140.00 77.8% 22.5% 131.2% 41.9% 84.4% 10.3% -1.4% 117.8M -1.29B -36.1M 0.91 26.13 N/A N/A 176,620 161,496 1,295,308 1,209,289 2026-03-03 $134.61 $140.00 78.4% 22.8% 130.1% 42.7% 86.0% 10.5% -0.4% 118.4M -643.0M -35.1M 1.03 27.77 N/A N/A 138,314 141,991 1,348,136 1,248,139 2026-03-04 $147.16 $140.00 77.6% 22.4% 131.8% 41.7% 83.3% 5.9% -0.9% 152.3M -3.62B -38.1M 0.64 20.50 N/A N/A 357,395 228,914 1,361,102 1,263,095 2026-03-05 $140.54 $150.00 77.0% 22.0% 132.7% 41.0% 77.8% 8.1% -0.8% 188.8M -1.85B -36.6M 0.46 38.34 N/A N/A 434,376 200,857 1,443,636 1,318,517 2026-03-06 $133.56 $150.00 79.4% 22.7% 112.6% 43.9% 79.5% 12.3% 1.2% 190.4M 373.0M -34.9M 0.62 43.81 N/A N/A 268,123 166,478 1,505,627 1,354,134 2026-03-09 $139.04 $150.00 75.8% 21.8% 78.8% 39.5% 78.1% 10.3% -0.0% 92.9M -482.7M -35.6M 0.71 43.63 N/A N/A 215,184 152,077 1,335,165 1,195,555 2026-03-10 $139.00 $135.00 73.7% 21.5% 78.3% 36.9% 75.2% 10.4% 1.5% 98.8M -503.9M -35.2M 0.80 38.27 N/A N/A 166,204 133,282 1,383,381 1,222,250 2026-03-11 $138.28 $135.00 71.3% 20.8% 77.4% 33.9% 74.1% 11.1% 1.3% 80.2M -290.9M -35.5M 0.50 42.31 N/A N/A 200,422 99,310 1,408,850 1,256,362 2026-03-12 $137.24 $135.00 73.0% 23.5% 73.4% 36.1% 75.5% 12.3% 1.1% 55.6M -95.5M -34.8M 0.61 18.01 N/A N/A 294,485 180,603 1,438,170 1,279,530 2026-03-13 $140.06 $135.00 72.4% 15.5% 73.3% 35.4% 75.3% 11.0% 0.7% 125.9M -1.09B -36.0M 0.57 21.02 N/A N/A 479,339 272,948 1,461,962 1,303,140 2026-03-16 $147.40 $135.00 70.7% 20.3% 70.0% 33.1% 72.7% 8.7% 0.5% 139.5M -2.41B -37.3M 1.11 15.36 N/A N/A 166,591 184,180 1,366,395 1,217,071 2026-03-17 $149.85 $135.00 66.8% 19.1% 68.6% 28.4% 69.6% 6.7% 1.1% 170.1M -3.02B -37.6M 1.15 15.00 N/A N/A 146,187 168,415 1,405,290 1,259,698 2026-03-18 $141.97 $135.00 70.0% 20.1% 71.0% 32.3% 71.4% 8.2% -0.2% 110.0M -881.3M -35.0M 0.79 12.91 N/A N/A 179,820 142,241 1,426,383 1,294,606 2026-03-19 $138.59 $135.00 68.6% 19.8% 71.5% 30.7% 72.6% 8.6% 1.1% 70.2M -87.6M -34.1M 0.79 12.60 N/A N/A 253,798 200,897 1,448,720 1,309,364 2026-03-20 $135.22 $135.00 71.1% 20.3% 71.8% 33.7% 75.2% 10.1% -0.9% -41.6M 452.2M -33.3M 0.45 16.91 N/A N/A 401,317 179,389 1,479,026 1,332,169 2026-03-23 $138.43 $135.00 68.1% 19.7% 68.7% 30.0% 72.4% 10.0% 2.3% 101.9M -805.1M -33.4M 0.90 7.30 N/A N/A 139,434 124,803 1,159,861 1,067,413 2026-03-24 $136.48 $135.00 70.7% 20.3% 69.1% 33.2% 74.6% 9.4% 4.0% 93.3M -489.5M -33.4M 0.96 9.62 N/A N/A 111,816 107,456 1,191,217 1,100,808 2026-03-25 $139.13 $135.00 68.2% 19.5% 62.0% 30.1% 72.4% 9.9% 2.9% 137.1M -913.5M -33.7M 0.67 10.46 N/A N/A 189,208 126,473 1,213,711 1,124,027 2026-03-26 $133.85 $135.00 70.3% 20.2% 63.3% 32.8% 73.9% 11.7% 1.6% 31.8M 293.3M -32.4M 0.42 13.16 N/A N/A 299,742 124,610 1,240,800 1,150,243 2026-03-27 $126.92 $135.00 74.6% 21.5% 65.0% 38.0% 77.7% 12.4% 1.7% -9.6M 1.20B -30.7M 0.68 14.24 N/A N/A 388,473 265,831 1,267,486 1,173,549 2026-03-30 $121.88 $135.00 79.6% 22.6% 61.6% 44.2% 84.1% 11.9% 2.5% 23.2M 1.10B -29.4M 0.63 8.78 N/A N/A 220,443 138,288 1,186,985 1,082,119 2026-03-31 $124.35 $135.00 75.3% 21.6% 61.9% 38.9% 80.1% 12.4% 0.2% 41.7M 839.8M -30.0M 0.55 7.69 N/A N/A 245,204 135,169 1,222,840 1,125,787
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