MSTR Options History — April 2026

In April 2026, MSTR traded between $119.99 and $123.07. ATM implied volatility averaged 74.0%, placing in the 37.3% IV rank vs the trailing year. The 30-day expected move averaged 21.2%. IV traded above realized volatility by 23.5% (HV 20d: 50.5%). Max pain ranged from $135.00 to $140.00. Net GEX was positive for 2 of 2 trading days. Term structure was in contango for 1 of 2 days. Put/call ratio averaged 0.60.

Notable Days

2026-04-02: Highest Volume — 528,644 contracts
2026-04-02: Largest IV drop — 0.2% change
2026-04-01: Highest IV Rank — 37.4%
2026-04-01: Largest Expected Move — 21.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$121.53	$119.99	$123.07	$123.07	$119.99
Max Pain	$137.50	$135.00	$140.00	$135.00	$140.00
ATM IV	74.0%	74.0%	74.1%	74.1%	74.0%
Expected Move	21.2%	21.2%	21.2%	21.2%	21.2%
HV 20d	50.5%	49.8%	51.3%	51.3%	49.8%
HV 60d	90.7%	90.6%	90.7%	90.7%	90.6%
IV Rank	37.3%	37.2%	37.4%	37.4%	37.2%
IV Percentile	75.0%	75.0%	75.0%	75.0%	75.0%
Term Structure	0.1%	-0.2%	0.4%	-0.2%	0.4%
VWIV	76.4%	75.1%	77.7%	77.7%	75.1%
Skew 25d	12.6%	12.5%	12.6%	12.6%	12.5%
Skew 10d	27.5%	24.9%	30.0%	24.9%	30.0%
Call IV 25d	69.3%	68.9%	69.8%	69.8%	68.9%
Put IV 25d	81.9%	81.4%	82.4%	82.4%	81.4%
Bid-Ask Spread %	14.88	7.52	22.25	7.52	22.25
Gamma HHI	0.05	0.05	0.05	0.05	0.05
Net GEX	27.9M	11.3M	44.4M	44.4M	11.3M
Net DEX	1.01B	787.5M	1.23B	787.5M	1.23B
Net VEX	-29.3M	-30.0M	-28.6M	-30.0M	-28.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.60	0.52	0.67	0.52	0.67
Total Volume	459,903.5	391,163	528,644	391,163	528,644
Total OI	2,477,649.5	2,459,395	2,495,904	2,459,395	2,495,904

Daily Data (2 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
2026-04-01	$123.07	$135.00	74.1%	21.2%	51.3%	37.4%	77.7%	12.6%	-0.2%	44.4M	787.5M	-30.0M	0.52	7.52	N/A	N/A	256,767	134,396	1,302,165	1,157,230
2026-04-02	$119.99	$140.00	74.0%	21.2%	49.8%	37.2%	75.1%	12.5%	0.4%	11.3M	1.23B	-28.6M	0.67	22.25	N/A	N/A	316,010	212,634	1,325,247	1,170,657