MSFT Options History — September 2009

In September 2009, MSFT traded between $23.86 and $25.94. ATM implied volatility averaged 24.0%, placing in the 1.7% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded above realized volatility by 5.8% (HV 20d: 18.2%). Max pain ranged from $20.00 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 0.87.

Notable Days

  • 2009-09-18: Highest Volume — 123,251 contracts
  • 2009-09-04: Largest IV drop — 13.2% change
  • 2009-09-01: Highest IV Rank — 5.5%
  • 2009-09-01: Largest Expected Move — 7.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.12$23.86$25.94$24.00$25.72
Max Pain$21.10$20.00$24.00$24.00$21.00
ATM IV24.0%21.8%27.5%27.5%21.8%
Expected Move7.0%6.2%7.9%7.9%6.2%
HV 20d18.2%13.7%21.1%20.3%13.7%
HV 60d29.4%27.3%30.6%30.5%27.3%
IV Rank1.7%0.0%5.5%5.5%0.0%
IV Percentile2.6%0.0%9.1%9.1%0.0%
Term Structure4.7%1.6%6.8%1.6%6.6%
VWIV25.5%23.0%29.3%27.6%23.0%
Skew 25d3.4%2.0%5.7%2.7%2.2%
Skew 10d7.7%4.1%13.5%4.2%5.4%
Call IV 25d23.8%21.9%27.0%26.9%22.2%
Put IV 25d27.2%24.4%30.4%29.6%24.4%
Bid-Ask Spread %2.361.033.343.051.03
Gamma HHI0.160.140.180.140.15
Net GEX47.1M36.1M53.8M37.1M48.3M
Net DEX-2.04B-2.44B-1.26B-1.34B-2.38B
Net VEX-13.6M-14.9M-12.7M-14.9M-13.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.870.381.600.870.78
Total Volume72,066.33326,707123,25175,73867,194
Total OI3,884,270.9053,777,0453,988,4963,852,8803,988,496

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-09-01$24.00$24.0027.5%7.9%20.3%5.5%27.6%2.7%1.6%37.1M-1.34B-14.9M0.873.05N/AN/A40,54735,1912,243,7941,609,086
2009-09-02$23.86$24.0027.4%7.9%20.4%5.4%27.7%2.8%2.7%36.1M-1.26B-14.7M1.602.11N/AN/A35,43756,6672,241,9541,605,488
2009-09-03$24.11$24.0026.6%7.6%19.9%4.3%26.9%2.6%2.9%38.3M-1.38B-14.8M0.772.47N/AN/A15,08411,6232,240,8071,617,382
2009-09-04$24.62$20.0023.1%7.4%21.1%0.0%29.3%5.2%4.1%45.0M-1.71B-14.5M0.902.68N/AN/A36,30032,7292,246,6211,606,269
2009-09-08$24.82$20.0024.0%7.6%20.9%1.3%27.4%5.7%4.2%46.4M-1.83B-14.4M1.403.06N/AN/A23,97933,5142,253,0671,609,339
2009-09-09$24.78$20.0023.1%7.3%20.2%0.1%27.0%5.6%3.8%47.3M-1.81B-14.1M1.052.29N/AN/A27,76229,2712,261,3181,612,059
2009-09-10$25.00$20.0025.3%7.3%19.7%3.0%26.1%4.8%3.7%50.6M-2.03B-13.4M0.581.85N/AN/A32,90119,1362,270,3281,616,929
2009-09-11$24.86$20.0025.0%7.2%19.9%2.6%26.4%4.4%3.5%50.6M-1.92B-13.7M0.552.18N/AN/A33,92218,7672,280,1501,624,335
2009-09-14$25.00$20.0025.1%7.2%20.0%2.7%25.6%4.1%3.3%51.4M-2.02B-13.5M0.962.36N/AN/A22,90022,0402,291,3301,624,285
2009-09-15$25.20$20.0024.6%7.1%18.3%2.1%25.2%3.7%3.4%53.8M-2.20B-12.9M0.722.46N/AN/A25,93618,6682,290,8291,628,404
2009-09-16$25.20$21.0025.4%7.3%18.0%3.0%25.8%4.4%3.2%51.8M-2.12B-13.6M0.953.34N/AN/A46,78844,6392,291,9721,630,068
2009-09-17$25.30$21.0024.4%7.0%18.0%1.8%25.2%3.2%4.7%51.1M-2.26B-13.2M0.482.94N/AN/A61,31329,5032,293,4421,632,274
2009-09-18$25.26$21.0023.4%6.7%18.1%0.4%23.9%2.4%5.3%51.3M-2.25B-13.2M1.163.17N/AN/A57,05466,1972,301,8251,634,180
2009-09-21$25.30$21.0023.6%6.8%14.8%0.7%23.7%2.6%6.1%46.1M-2.09B-13.3M1.272.46N/AN/A27,29234,5592,201,6321,575,413
2009-09-22$25.77$21.0022.0%6.3%15.8%0.0%23.4%2.7%6.6%46.8M-2.41B-12.7M0.562.29N/AN/A68,84638,6862,215,6841,587,574
2009-09-23$25.71$21.0022.5%6.4%15.8%0.7%23.1%2.5%6.5%47.3M-2.38B-12.9M0.541.87N/AN/A77,44641,4342,239,2601,604,415
2009-09-24$25.94$21.0022.5%6.5%15.9%0.7%23.7%2.4%6.8%47.5M-2.44B-13.1M1.352.48N/AN/A29,53739,9762,245,4821,621,057
2009-09-25$25.55$21.0022.2%6.4%17.0%0.3%23.4%2.2%6.7%46.8M-2.25B-13.2M0.791.63N/AN/A28,72222,7022,255,4311,644,565
2009-09-28$25.83$21.0022.2%6.4%17.3%0.3%23.6%2.0%6.7%47.1M-2.43B-13.0M0.382.05N/AN/A38,24514,6742,256,0341,656,442
2009-09-29$25.75$21.0022.2%6.4%17.4%0.3%27.3%2.4%6.3%48.1M-2.27B-13.3M0.661.79N/AN/A63,89542,3172,257,7841,662,885
2009-09-30$25.72$21.0021.8%6.2%13.7%0.0%23.0%2.2%6.6%48.3M-2.38B-13.7M0.781.03N/AN/A37,82229,3722,308,4581,680,038