MSFT Options History — November 2007

In November 2007, MSFT traded between $32.97 and $37.06. ATM implied volatility averaged 27.7%, placing in the 63.0% IV rank vs the trailing year. The 30-day expected move averaged 7.7%. IV traded below realized volatility by 11.6% (HV 20d: 39.3%). Max pain ranged from $32.50 to $35.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 0.62.

Notable Days

  • 2007-11-01: Highest Volume — 510,746 contracts
  • 2007-11-13: Largest IV drop — 24.2% change
  • 2007-11-12: Highest IV Rank — 100.0%
  • 2007-11-09: Largest Expected Move — 8.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$34.51$32.97$37.06$37.06$33.60
Max Pain$33.81$32.50$35.00$32.50$32.50
ATM IV27.7%23.0%36.6%29.4%26.6%
Expected Move7.7%6.6%8.9%8.4%7.6%
HV 20d39.3%26.1%45.6%38.3%26.1%
HV 60d28.6%26.8%29.8%28.0%29.6%
IV Rank63.0%37.0%100.0%80.4%53.5%
IV Percentile89.8%69.1%100.0%95.7%87.4%
Term Structure0.7%-1.1%2.5%-1.1%1.4%
VWIV27.3%23.4%31.4%30.7%26.1%
Skew 25d1.2%-2.9%2.9%-2.8%1.2%
Skew 10d2.7%-4.6%7.0%-4.6%2.4%
Call IV 25d27.2%22.8%33.0%33.0%26.0%
Put IV 25d28.4%25.4%32.3%30.2%27.2%
Bid-Ask Spread %2.551.573.222.151.79
Gamma HHI0.210.170.240.190.24
Net GEX76.0M39.9M87.3M78.1M78.3M
Net DEX-4.68B-6.68B-2.37B-6.65B-4.17B
Net VEX-21.3M-23.4M-15.6M-19.5M-21.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.620.381.340.380.57
Total Volume159,289.8155,715510,746510,74673,684
Total OI4,193,988.6192,834,2014,406,0214,119,3084,232,758

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-11-01$37.06$32.5029.4%8.4%38.3%80.4%30.7%-2.8%-1.1%78.1M-6.65B-19.5M0.382.15N/AN/A371,222139,5242,440,0481,679,260
2007-11-02$37.06$32.5026.7%7.6%38.4%64.9%27.9%-2.9%-0.8%84.8M-6.68B-20.0M0.393.02N/AN/A194,29476,6212,523,6251,723,750
2007-11-05$36.73$35.0027.3%7.3%38.9%68.7%26.0%0.1%0.1%87.3M-6.40B-20.2M0.422.41N/AN/A93,03939,1472,551,6341,748,164
2007-11-06$36.41$35.0026.4%6.9%39.4%63.4%24.4%0.9%0.5%86.4M-6.21B-20.2M0.652.36N/AN/A147,45495,3672,552,3861,762,557
2007-11-07$35.52$35.0029.3%7.7%41.3%79.2%26.9%1.6%-0.1%77.2M-5.44B-21.6M0.793.22N/AN/A66,43552,2432,562,7891,797,282
2007-11-08$34.74$35.0028.2%7.7%42.1%73.2%27.8%1.7%-0.2%71.0M-4.84B-22.2M0.722.90N/AN/A133,01595,9962,570,2011,796,008
2007-11-09$33.73$35.0031.8%8.9%44.1%93.4%31.4%1.2%-1.0%69.5M-4.03B-23.4M0.553.14N/AN/A138,91076,7412,574,4331,809,863
2007-11-12$33.38$35.0036.6%8.9%44.4%100.0%30.9%0.7%-0.2%72.1M-3.87B-23.2M0.383.21N/AN/A177,81767,4632,589,1161,812,001
2007-11-13$34.46$35.0027.8%7.5%45.4%59.2%27.2%2.4%1.1%73.4M-4.58B-22.2M0.542.58N/AN/A146,95079,2292,563,7341,811,138
2007-11-14$33.93$32.5029.6%7.7%45.4%67.7%27.9%2.3%0.6%80.7M-4.44B-22.0M0.392.80N/AN/A60,21823,3702,599,9241,798,884
2007-11-15$33.76$32.5026.4%7.6%45.6%52.8%27.6%2.2%1.1%39.9M-2.37B-15.6M1.342.34N/AN/A34,14045,7311,610,9161,223,285
2007-11-16$34.09$32.5024.1%6.9%43.5%42.1%25.6%2.9%2.0%77.9M-4.44B-21.9M0.692.36N/AN/A70,29748,4972,598,4781,807,543
2007-11-19$33.96$32.5024.4%7.0%43.6%43.6%25.0%2.9%2.3%77.2M-4.33B-21.7M0.492.83N/AN/A37,42618,2892,410,0721,657,333
2007-11-20$34.58$32.5023.0%6.6%43.8%37.0%23.4%2.8%2.5%83.4M-4.78B-21.6M0.513.01N/AN/A84,26642,7282,428,9861,671,304
2007-11-21$34.23$35.0025.2%7.2%44.1%47.2%26.0%1.1%1.7%80.2M-4.58B-21.6M1.242.17N/AN/A59,98774,5772,439,0851,687,202
2007-11-23$34.11$35.0026.4%7.6%43.6%52.5%27.0%1.5%1.4%78.6M-4.46B-21.8M0.402.60N/AN/A41,87716,6442,465,0261,723,121
2007-11-26$32.97$35.0028.6%8.2%31.0%62.7%28.8%1.1%1.4%70.2M-3.73B-21.8M0.741.96N/AN/A65,21948,1902,472,7541,708,244
2007-11-27$33.06$35.0028.6%8.2%30.8%62.7%28.7%1.2%0.6%71.9M-3.79B-21.9M0.502.95N/AN/A90,80945,7442,485,8881,712,889
2007-11-28$33.70$32.5028.8%8.3%29.8%63.7%28.1%1.9%-0.4%78.3M-4.30B-21.6M0.541.57N/AN/A65,43235,0842,507,4781,725,675
2007-11-29$33.59$32.5027.0%7.7%26.4%55.3%26.8%1.4%1.1%78.8M-4.20B-21.6M0.722.24N/AN/A41,58429,8262,507,5001,731,427
2007-11-30$33.60$32.5026.6%7.6%26.1%53.5%26.1%1.2%1.4%78.3M-4.17B-21.6M0.571.79N/AN/A46,91726,7672,507,3291,725,429