MSFT Options History — August 2009

In August 2009, MSFT traded between $23.13 and $24.69. ATM implied volatility averaged 26.2%, placing in the 3.5% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded below realized volatility by 6.2% (HV 20d: 32.3%). Max pain ranged from $24.00 to $24.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 0.81.

Notable Days

  • 2009-08-17: Highest Volume — 184,783 contracts
  • 2009-08-17: Largest IV spike — 13.2% change
  • 2009-08-17: Highest IV Rank — 8.4%
  • 2009-08-17: Largest Expected Move — 8.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.92$23.13$24.69$23.83$24.65
Max Pain$24.00$24.00$24.00$24.00$24.00
ATM IV26.2%23.4%29.8%27.7%24.4%
Expected Move7.6%6.7%8.6%7.9%7.0%
HV 20d32.3%17.6%42.8%42.8%17.6%
HV 60d30.9%30.0%31.7%31.6%30.0%
IV Rank3.5%0.0%8.4%5.5%1.4%
IV Percentile4.6%0.0%17.5%7.5%1.6%
Term Structure1.7%0.3%2.3%0.6%2.2%
VWIV27.1%24.4%30.3%29.1%26.1%
Skew 25d3.2%1.7%4.3%2.5%3.6%
Skew 10d6.0%2.2%8.6%3.9%7.0%
Call IV 25d25.5%22.8%28.1%26.9%23.8%
Put IV 25d28.7%26.2%32.0%29.4%27.4%
Bid-Ask Spread %3.432.534.773.813.24
Gamma HHI0.130.120.150.150.14
Net GEX32.8M22.2M41.7M33.9M41.7M
Net DEX-1.33B-1.75B-853.2M-1.32B-1.75B
Net VEX-14.6M-15.0M-14.2M-14.9M-14.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.810.331.870.851.16
Total Volume83,950.14346,116184,78362,68381,728
Total OI3,932,356.0483,694,7804,079,0093,889,2073,828,511

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-08-03$23.83$24.0027.7%7.9%42.8%5.5%29.1%2.5%0.6%33.9M-1.32B-14.9M0.853.81N/AN/A33,87228,8112,288,0391,601,168
2009-08-04$23.77$24.0027.2%7.8%41.3%4.9%28.5%1.7%0.9%33.2M-1.27B-14.8M1.092.87N/AN/A40,14043,6072,295,0751,604,488
2009-08-05$23.81$24.0027.0%7.8%41.3%4.6%27.8%1.9%0.9%34.9M-1.32B-15.0M0.582.91N/AN/A46,32426,6822,314,7011,619,191
2009-08-06$23.46$24.0027.9%8.0%41.7%5.7%27.9%1.9%0.3%29.7M-1.06B-14.9M0.993.24N/AN/A39,37338,7992,321,7441,627,096
2009-08-07$23.56$24.0025.0%7.6%41.7%1.9%27.1%2.8%1.7%30.1M-1.15B-14.8M0.953.40N/AN/A29,24427,8512,328,2711,642,809
2009-08-10$23.42$24.0027.4%8.0%39.7%5.1%27.8%3.2%1.8%26.0M-1.01B-14.5M0.423.93N/AN/A42,34117,7512,332,3501,652,900
2009-08-11$23.13$24.0027.1%8.0%39.9%4.7%27.4%3.8%1.9%22.2M-853.2M-14.5M1.283.88N/AN/A32,28041,4022,346,7361,660,076
2009-08-12$23.53$24.0025.1%7.7%37.2%2.0%27.8%3.1%2.1%28.9M-1.16B-14.6M0.414.77N/AN/A59,85724,3472,355,2221,675,433
2009-08-13$23.62$24.0026.7%7.7%36.9%4.2%27.4%3.3%2.1%29.8M-1.19B-14.7M0.763.62N/AN/A26,18519,9312,371,1591,668,851
2009-08-14$23.69$24.0026.4%7.6%36.9%3.7%27.5%3.0%2.0%30.1M-1.21B-14.6M0.803.35N/AN/A39,97731,9002,372,7411,674,919
2009-08-17$23.25$24.0029.8%8.6%37.2%8.4%30.3%3.9%1.5%23.2M-931.8M-14.7M0.333.01N/AN/A139,03945,7442,399,4961,679,513
2009-08-18$23.58$24.0027.8%8.0%37.3%5.6%28.8%4.2%1.8%27.6M-1.08B-14.6M0.603.27N/AN/A44,90027,1342,333,6851,688,765
2009-08-19$23.65$24.0027.2%7.8%37.3%4.8%28.0%4.3%2.0%30.1M-1.13B-14.5M0.693.49N/AN/A36,67825,1352,338,3831,689,293
2009-08-20$23.67$24.0026.5%7.6%35.3%3.8%27.3%3.7%1.8%32.3M-1.17B-14.2M1.373.77N/AN/A45,31362,1302,336,3081,678,400
2009-08-21$24.41$24.0026.0%7.4%20.4%3.2%25.6%3.8%1.6%37.2M-1.69B-14.4M0.513.11N/AN/A78,26639,9182,343,4021,707,071
2009-08-24$24.64$24.0025.0%7.2%19.6%1.9%25.5%3.4%1.6%37.3M-1.68B-14.3M0.423.43N/AN/A89,26437,3962,136,4371,558,343
2009-08-25$24.64$24.0024.3%7.0%19.1%0.9%25.3%3.1%1.9%39.2M-1.71B-14.5M0.482.68N/AN/A31,63015,1592,170,9061,575,339
2009-08-26$24.55$24.0023.9%6.9%18.7%0.4%25.1%3.1%2.0%39.5M-1.65B-14.3M1.873.63N/AN/A30,02256,0972,181,2651,577,722
2009-08-27$24.69$24.0023.4%6.7%18.8%0.0%24.6%3.5%2.1%40.0M-1.75B-14.6M0.762.53N/AN/A26,93120,4592,195,7321,615,350
2009-08-28$24.68$24.0023.7%6.8%18.0%0.3%24.4%2.9%2.3%40.9M-1.73B-14.5M0.674.11N/AN/A83,43055,9062,194,9271,597,660
2009-08-31$24.65$24.0024.4%7.0%17.6%1.4%26.1%3.6%2.2%41.7M-1.75B-14.7M1.163.24N/AN/A37,81643,9122,229,7361,598,775