MSFT Options History — June 2009

In June 2009, MSFT traded between $21.40 and $24.07. ATM implied volatility averaged 30.6%, placing in the 9.5% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded above realized volatility by 7.1% (HV 20d: 23.5%). Max pain ranged from $19.00 to $20.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 0.55.

Notable Days

  • 2009-06-16: Highest Volume — 245,675 contracts
  • 2009-06-11: Largest IV spike — 12.4% change
  • 2009-06-16: Highest IV Rank — 14.1%
  • 2009-06-16: Largest Expected Move — 9.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.92$21.40$24.07$21.40$23.77
Max Pain$19.27$19.00$20.00$20.00$20.00
ATM IV30.6%26.2%34.0%29.8%31.1%
Expected Move8.9%8.1%9.8%8.5%8.9%
HV 20d23.5%18.8%27.5%27.5%22.7%
HV 60d40.4%34.2%46.3%46.3%34.2%
IV Rank9.5%3.5%14.1%10.1%10.2%
IV Percentile19.0%2.8%30.2%15.9%22.6%
Term Structure3.1%0.2%5.8%1.0%3.5%
VWIV31.2%28.2%33.7%30.0%31.7%
Skew 25d3.2%0.7%4.9%4.3%1.7%
Skew 10d6.6%3.5%9.8%8.3%5.1%
Call IV 25d29.8%27.1%32.6%27.7%31.5%
Put IV 25d33.1%29.9%35.6%32.1%33.2%
Bid-Ask Spread %2.581.573.652.902.33
Gamma HHI0.130.110.160.140.15
Net GEX37.8M32.3M45.8M32.3M45.8M
Net DEX-1.66B-2.36B-914.3M-914.3M-1.94B
Net VEX-14.4M-15.0M-14.0M-14.0M-14.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.550.320.780.530.72
Total Volume113,838.72750,387245,675115,17163,298
Total OI3,831,890.7733,631,0714,055,3593,631,0714,000,451

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-06-01$21.40$20.0029.8%8.5%27.5%10.1%30.0%4.3%1.0%32.3M-914.3M-14.0M0.532.90N/AN/A75,32039,8512,075,9091,555,162
2009-06-02$21.40$20.0030.8%8.8%27.4%9.7%30.2%3.3%0.8%32.6M-928.1M-14.1M0.422.84N/AN/A60,42725,5322,093,8351,560,534
2009-06-03$21.73$20.0031.2%9.0%26.4%10.3%31.7%2.9%0.2%33.1M-1.11B-14.2M0.582.62N/AN/A56,46932,5512,105,2031,561,740
2009-06-04$21.83$20.0029.8%8.6%26.3%8.4%31.5%3.6%1.3%33.6M-1.13B-14.2M0.713.65N/AN/A51,43036,6362,099,4041,575,453
2009-06-05$22.14$19.0029.1%8.7%24.1%7.4%30.6%4.3%4.2%33.6M-1.33B-14.2M0.323.46N/AN/A82,11226,5622,112,6821,594,838
2009-06-08$22.05$19.0029.9%8.9%24.4%8.5%31.7%4.9%4.0%36.2M-1.30B-14.1M0.663.65N/AN/A41,39027,1402,132,7411,579,679
2009-06-09$22.08$19.0027.7%8.4%24.1%5.5%31.1%4.6%4.9%38.1M-1.29B-14.1M0.492.81N/AN/A84,45041,2942,148,8511,590,442
2009-06-10$22.55$19.0026.2%8.1%23.3%3.5%29.3%4.4%4.8%41.4M-1.60B-14.2M0.712.85N/AN/A54,10138,1752,197,2981,611,681
2009-06-11$22.83$19.0029.5%8.5%22.8%8.0%29.1%3.6%3.6%38.9M-1.69B-14.1M0.513.48N/AN/A105,39254,0012,180,7941,617,062
2009-06-12$23.33$19.0030.2%8.6%23.2%8.9%30.4%2.3%3.1%40.5M-1.96B-14.2M0.432.83N/AN/A83,21735,7142,215,5731,629,996
2009-06-15$23.42$19.0033.0%9.5%23.3%12.7%33.0%2.4%1.6%37.8M-2.01B-14.2M0.582.22N/AN/A58,39433,8602,226,3641,644,093
2009-06-16$23.45$19.0034.0%9.8%23.0%14.1%33.7%3.0%1.4%36.8M-2.02B-14.4M0.631.93N/AN/A150,75094,9252,236,8651,647,686
2009-06-17$23.68$19.0032.9%9.4%21.6%12.5%33.0%3.8%0.9%39.5M-2.16B-14.8M0.781.87N/AN/A103,92680,8652,308,5161,687,523
2009-06-18$23.50$19.0032.9%9.4%22.3%12.6%33.4%3.4%1.9%38.8M-2.06B-14.8M0.422.83N/AN/A47,95320,1762,328,5971,726,762
2009-06-19$24.07$19.0030.4%8.7%18.8%9.2%30.3%2.9%2.5%39.4M-2.36B-14.7M0.392.35N/AN/A141,15954,4112,324,8261,701,253
2009-06-22$23.28$19.0031.7%9.1%23.9%10.9%31.3%3.1%5.4%35.0M-1.71B-14.7M0.621.75N/AN/A74,18446,0012,215,6861,579,042
2009-06-23$23.34$19.0033.7%9.6%22.6%13.6%33.2%3.1%4.3%36.2M-1.66B-15.0M0.651.57N/AN/A80,04752,2402,229,6031,593,771
2009-06-24$23.47$19.0031.6%9.1%21.7%10.8%31.3%3.4%5.4%39.5M-1.77B-14.9M0.691.69N/AN/A29,73220,6552,269,6111,609,407
2009-06-25$23.79$19.0028.4%8.1%21.6%6.5%29.5%3.5%5.8%41.8M-1.93B-14.8M0.542.59N/AN/A54,38529,3032,277,0131,622,562
2009-06-26$23.35$19.0028.2%8.1%22.8%6.3%28.2%2.4%5.8%39.2M-1.66B-14.4M0.482.03N/AN/A48,98223,5092,268,0061,629,762
2009-06-29$23.86$20.0031.1%8.9%22.6%10.2%31.5%0.7%2.9%42.1M-1.95B-14.4M0.352.49N/AN/A106,25337,6802,298,3271,636,994
2009-06-30$23.77$20.0031.1%8.9%22.7%10.2%31.7%1.7%3.5%45.8M-1.94B-14.7M0.722.33N/AN/A36,81626,4822,346,9801,653,471