MSFT Options History — July 2007

In July 2007, MSFT traded between $28.99 and $31.51. ATM implied volatility averaged 23.1%, placing in the 57.7% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 4.9% (HV 20d: 18.3%). Max pain ranged from $27.50 to $30.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.45.

Notable Days

  • 2007-07-19: Highest Volume — 333,011 contracts
  • 2007-07-12: Largest IV drop — 26.0% change
  • 2007-07-11: Highest IV Rank — 100.0%
  • 2007-07-31: Largest Expected Move — 7.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.15$28.99$31.51$29.74$28.99
Max Pain$29.52$27.50$30.00$27.50$30.00
ATM IV23.1%19.0%29.8%20.6%25.8%
Expected Move6.4%5.4%7.4%5.9%7.4%
HV 20d18.3%15.1%21.3%17.8%21.2%
HV 60d16.8%15.8%17.8%16.2%17.2%
IV Rank57.7%26.9%100.0%52.3%73.2%
IV Percentile87.1%61.4%100.0%88.9%97.2%
Term Structure-1.4%-5.7%0.3%-0.9%-2.2%
VWIV22.4%18.6%25.8%20.7%25.8%
Skew 25d1.4%-0.9%3.3%1.2%0.8%
Skew 10d2.6%-0.0%6.3%1.5%1.3%
Call IV 25d22.6%19.0%26.2%22.1%26.2%
Put IV 25d24.0%19.9%27.1%23.3%27.1%
Bid-Ask Spread %2.001.063.101.062.66
Gamma HHI0.370.290.440.410.35
Net GEX66.1M49.0M88.3M60.8M49.0M
Net DEX-2.65B-3.93B-1.65B-2.38B-1.65B
Net VEX-20.7M-21.9M-19.3M-20.8M-21.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.450.200.930.200.35
Total Volume96,308.61928,890333,01128,89087,747
Total OI3,541,196.9053,306,8443,861,5883,493,7763,449,532

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-07-02$29.74$27.5020.6%5.9%17.8%0.0%20.7%1.2%-0.9%60.8M-2.38B-20.8M0.201.06N/AN/A24,0824,8082,049,7241,444,052
2007-07-03$30.02$27.5020.4%5.9%18.2%0.0%20.5%0.9%-0.9%65.7M-2.58B-20.7M0.451.20N/AN/A21,6909,7092,053,8391,444,477
2007-07-05$29.99$27.5022.3%6.4%17.9%52.3%22.3%0.4%-2.0%63.6M-2.55B-20.6M0.461.07N/AN/A33,39915,3952,053,0081,444,638
2007-07-06$29.97$30.0022.1%5.8%15.9%51.3%20.9%2.1%-0.7%66.7M-2.54B-20.5M0.662.09N/AN/A32,77821,4682,064,4811,449,559
2007-07-09$29.87$27.5023.9%5.8%15.1%64.1%21.1%2.1%-0.8%68.9M-2.51B-20.2M0.532.16N/AN/A32,99417,5132,079,2361,449,051
2007-07-10$29.33$30.0028.5%6.4%16.4%96.8%22.8%2.0%-0.9%59.5M-2.09B-20.8M0.401.98N/AN/A111,96145,2032,087,3231,458,433
2007-07-11$29.49$30.0029.8%6.4%16.4%100.0%22.5%2.2%-0.9%62.1M-2.23B-21.3M0.622.15N/AN/A45,38928,1622,130,3631,481,781
2007-07-12$30.07$30.0022.1%6.3%16.7%47.8%21.9%3.3%-0.2%72.6M-2.76B-21.0M0.411.77N/AN/A49,18020,4102,162,4261,494,251
2007-07-13$29.82$30.0022.9%6.6%16.8%53.5%23.2%1.2%-2.0%65.5M-2.50B-21.4M0.351.82N/AN/A29,69310,2642,154,2441,499,046
2007-07-16$30.03$30.0023.6%6.8%17.1%58.1%23.4%2.1%-1.4%73.0M-2.81B-20.3M0.331.58N/AN/A70,28822,9802,162,2021,495,047
2007-07-17$30.78$30.0024.7%7.1%19.3%65.7%24.7%1.9%-2.8%82.6M-3.42B-20.0M0.331.96N/AN/A110,50136,1232,190,4151,499,233
2007-07-18$30.92$30.0024.6%7.1%19.3%64.8%24.5%1.7%-3.3%80.5M-3.40B-20.8M0.241.42N/AN/A83,69319,8092,208,7551,512,871
2007-07-19$31.51$30.0025.4%7.3%19.4%70.3%25.4%-0.9%-5.7%88.3M-3.93B-19.3M0.623.10N/AN/A206,139126,8722,219,7291,515,269
2007-07-20$31.16$30.0019.9%5.7%19.9%33.2%19.8%0.4%-0.1%64.0M-3.73B-19.8M0.361.99N/AN/A136,64149,4932,287,8831,573,705
2007-07-23$31.19$30.0020.8%6.0%17.4%39.6%20.7%0.0%-1.6%66.1M-3.02B-20.2M0.612.20N/AN/A44,22026,9141,927,7301,379,114
2007-07-24$30.80$30.0019.8%5.7%18.2%32.5%19.6%1.2%0.1%64.7M-2.78B-20.4M0.392.03N/AN/A60,03823,6651,937,7561,383,751
2007-07-25$30.71$30.0019.0%5.4%18.3%26.9%18.6%1.2%0.3%65.6M-2.69B-20.7M0.311.78N/AN/A80,51225,1641,957,7421,390,140
2007-07-26$29.98$30.0021.7%6.2%20.1%45.1%22.2%2.8%-0.7%63.3M-2.41B-21.1M0.932.91N/AN/A55,81152,1042,009,9951,393,600
2007-07-27$29.39$30.0024.0%6.9%21.3%61.0%24.7%1.2%-1.1%52.0M-1.86B-21.9M0.582.25N/AN/A35,41820,3932,022,9591,416,086
2007-07-30$29.40$30.0023.8%6.8%20.9%59.4%24.3%1.3%-1.2%52.6M-1.86B-21.4M0.392.76N/AN/A67,36926,4892,012,7011,418,988
2007-07-31$28.99$30.0025.8%7.4%21.2%73.2%25.8%0.8%-2.2%49.0M-1.65B-21.5M0.352.66N/AN/A64,80222,9452,035,5271,414,005