MSFT Options History — October 2007

In October 2007, MSFT traded between $29.45 and $36.81. ATM implied volatility averaged 23.9%, placing in the 52.5% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 4.8% (HV 20d: 19.1%). Max pain ranged from $30.00 to $32.50. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 5 of 23 days. Put/call ratio averaged 0.40.

Notable Days

  • 2007-10-26: Highest Volume — 823,892 contracts
  • 2007-10-11: Largest IV spike — 29.3% change
  • 2007-10-23: Highest IV Rank — 100.0%
  • 2007-10-24: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.22$29.45$36.81$29.77$36.81
Max Pain$30.22$30.00$32.50$30.00$32.50
ATM IV23.9%17.2%33.0%19.1%26.9%
Expected Move7.1%5.1%9.5%5.5%7.7%
HV 20d19.1%12.8%38.2%15.8%38.2%
HV 60d21.2%19.0%28.1%20.6%28.1%
IV Rank52.5%13.3%100.0%25.2%66.3%
IV Percentile73.4%19.9%100.0%50.8%93.3%
Term Structure-1.4%-6.7%5.5%4.8%-2.6%
VWIV24.9%17.8%31.6%19.3%28.2%
Skew 25d1.9%-0.1%3.3%1.7%-0.1%
Skew 10d2.9%1.3%5.9%2.2%2.8%
Call IV 25d25.0%19.8%31.5%20.9%28.4%
Put IV 25d26.9%21.7%34.1%22.6%28.2%
Bid-Ask Spread %2.301.373.741.372.69
Gamma HHI0.370.200.470.420.20
Net GEX81.8M65.0M103.0M73.4M82.0M
Net DEX-3.25B-6.55B-2.05B-2.32B-6.55B
Net VEX-18.6M-19.9M-16.9M-18.7M-18.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.400.190.840.260.38
Total Volume172,302.91335,134823,89257,192432,165
Total OI3,667,171.7833,416,4974,025,7063,565,9614,025,706

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-10-01$29.77$30.0019.1%5.5%15.8%25.2%19.3%1.7%4.8%73.4M-2.32B-18.7M0.261.37N/AN/A45,43611,7562,093,8861,472,075
2007-10-02$29.70$30.0019.5%5.6%15.9%27.5%19.7%1.4%4.8%71.8M-2.26B-18.8M0.841.70N/AN/A21,22917,8052,106,8321,473,915
2007-10-03$29.45$30.0018.6%5.3%15.6%21.7%18.6%1.9%5.0%68.1M-2.05B-18.9M0.571.66N/AN/A30,26817,1372,106,8231,484,000
2007-10-04$29.71$30.0017.7%5.1%15.0%16.8%17.8%2.0%5.5%77.4M-2.26B-18.9M0.641.77N/AN/A22,57914,4642,118,9941,488,522
2007-10-05$29.84$30.0017.2%6.5%13.5%13.3%21.7%3.1%-0.1%81.2M-2.41B-18.5M0.422.63N/AN/A24,79410,3402,116,2451,489,973
2007-10-08$29.84$30.0017.9%6.6%13.5%17.9%23.2%2.0%-1.4%82.0M-2.36B-18.4M0.291.82N/AN/A28,0258,0312,114,3681,490,759
2007-10-09$30.10$30.0018.7%6.5%12.8%22.8%22.7%1.5%-1.3%88.3M-2.61B-18.1M0.421.97N/AN/A67,42228,1422,125,6931,489,820
2007-10-10$30.23$30.0018.2%6.4%12.8%19.9%22.2%2.0%-1.3%90.0M-2.72B-18.1M0.472.24N/AN/A32,00815,0542,138,6781,498,930
2007-10-11$29.91$30.0023.6%6.8%13.4%52.2%23.7%2.0%-1.6%82.1M-2.45B-18.2M0.682.85N/AN/A66,06744,6902,141,7681,504,886
2007-10-12$30.17$30.0024.0%6.9%13.5%54.7%25.3%2.9%-2.1%88.5M-2.66B-18.5M0.442.64N/AN/A37,87816,7512,166,0401,514,338
2007-10-15$30.04$30.0025.5%7.3%12.9%63.6%25.3%2.3%-2.6%89.5M-2.61B-18.6M0.282.31N/AN/A41,14811,7282,174,9921,512,105
2007-10-16$30.32$30.0025.6%7.3%13.0%64.3%25.6%2.2%-3.0%90.7M-2.77B-18.4M0.191.92N/AN/A93,26917,4702,178,4931,508,451
2007-10-17$31.08$30.0026.2%7.5%14.5%67.9%25.6%2.1%-3.5%83.3M-3.34B-18.4M0.483.74N/AN/A94,61045,0662,199,3931,515,866
2007-10-18$31.16$30.0026.6%7.6%13.8%70.2%26.2%2.0%-3.4%83.9M-3.26B-18.5M0.222.66N/AN/A61,49113,3072,180,8111,533,697
2007-10-19$30.17$30.0028.1%8.0%18.9%79.3%28.3%1.7%-3.8%103.0M-2.69B-18.8M0.232.07N/AN/A129,14829,6462,181,6551,536,445
2007-10-22$30.51$30.0030.3%8.7%18.6%92.8%30.3%1.8%-5.4%65.0M-2.57B-19.0M0.381.96N/AN/A120,95845,4052,011,6261,404,871
2007-10-23$30.90$30.0031.7%9.1%18.3%100.0%31.6%1.4%-6.3%71.4M-2.87B-19.4M0.312.46N/AN/A107,94433,8622,072,2361,422,404
2007-10-24$31.25$30.0033.0%9.5%18.5%100.0%31.6%3.3%-6.7%75.3M-3.14B-19.9M0.322.86N/AN/A150,45847,7892,125,8421,442,469
2007-10-25$31.99$30.0029.0%8.3%19.8%78.1%29.9%2.0%-4.4%82.2M-3.63B-19.7M0.322.17N/AN/A371,178119,3482,153,1561,458,101
2007-10-26$35.03$30.0023.8%6.8%36.5%49.2%25.0%0.9%-1.2%83.9M-5.87B-16.9M0.362.50N/AN/A606,720217,1722,274,3501,516,819
2007-10-29$34.57$30.0023.3%6.7%37.3%46.4%24.0%0.4%0.3%86.7M-5.59B-18.2M0.382.45N/AN/A228,78086,9992,293,5131,537,515
2007-10-30$35.57$32.5025.3%7.3%37.8%57.6%25.8%2.6%-1.1%81.8M-5.81B-18.7M0.342.38N/AN/A222,58174,8492,327,7231,620,167
2007-10-31$36.81$32.5026.9%7.7%38.2%66.3%28.2%-0.1%-2.6%82.0M-6.55B-18.2M0.382.69N/AN/A312,539119,6262,383,5361,642,170