MSFT Options History — October 2009

In October 2009, MSFT traded between $24.64 and $28.68. ATM implied volatility averaged 24.8%, placing in the 5.7% IV rank vs the trailing year. The 30-day expected move averaged 7.7%. IV traded above realized volatility by 2.5% (HV 20d: 22.3%). Max pain ranged from $21.00 to $26.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 0.63.

Notable Days

  • 2009-10-23: Highest Volume — 627,341 contracts
  • 2009-10-23: Largest IV drop — 19.6% change
  • 2009-10-22: Highest IV Rank — 12.9%
  • 2009-10-05: Largest Expected Move — 8.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$26.44$24.64$28.68$24.88$27.73
Max Pain$24.59$21.00$26.00$21.00$26.00
ATM IV24.8%21.0%29.0%24.8%27.5%
Expected Move7.7%6.7%8.7%7.1%7.9%
HV 20d22.3%17.7%29.5%18.7%27.3%
HV 60d24.2%18.6%28.4%28.3%22.0%
IV Rank5.7%0.0%12.9%4.0%10.6%
IV Percentile10.9%0.0%26.2%7.5%24.2%
Term Structure-0.4%-3.1%5.6%5.4%0.4%
VWIV27.7%23.9%31.2%25.3%29.0%
Skew 25d3.0%1.4%4.4%2.3%4.1%
Skew 10d5.9%1.7%9.1%4.7%7.3%
Call IV 25d25.9%23.1%28.9%25.0%26.6%
Put IV 25d28.9%24.5%33.3%27.3%30.7%
Bid-Ask Spread %3.082.124.012.123.13
Gamma HHI0.150.120.220.150.12
Net GEX51.8M41.8M66.5M44.0M58.2M
Net DEX-2.41B-3.35B-1.65B-1.76B-2.58B
Net VEX-13.7M-15.6M-13.0M-13.7M-15.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.630.221.290.711.06
Total Volume147,036.40948,319627,341110,341100,859
Total OI3,930,015.9553,429,9084,261,8463,996,5483,942,918

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-10-01$24.88$21.0024.8%7.1%18.7%4.0%25.3%2.3%5.4%44.0M-1.76B-13.7M0.712.12N/AN/A64,58245,7592,297,3801,699,168
2009-10-02$24.96$21.0025.2%7.2%18.5%4.6%27.2%2.9%5.6%45.2M-1.82B-14.1M0.762.33N/AN/A39,58930,1052,308,0881,711,595
2009-10-05$24.64$25.0025.8%8.7%17.7%5.4%31.2%4.4%-1.3%43.2M-1.65B-13.4M0.693.59N/AN/A55,98838,6872,311,8501,717,536
2009-10-06$25.11$25.0024.4%8.5%18.7%3.6%29.6%4.3%-1.4%45.6M-2.01B-13.2M0.792.78N/AN/A35,14727,9042,310,1361,725,400
2009-10-07$25.10$25.0023.6%8.4%18.7%2.5%29.2%4.3%-1.6%46.4M-1.94B-13.3M1.293.82N/AN/A39,97251,6152,314,0941,733,493
2009-10-08$25.67$25.0022.7%8.0%20.1%1.3%28.5%4.3%-1.2%49.9M-2.37B-13.3M0.733.54N/AN/A96,21570,2082,332,2411,763,481
2009-10-09$25.55$25.0021.0%7.9%20.0%0.0%28.7%4.3%-1.1%48.6M-2.25B-13.8M0.513.42N/AN/A32,08316,2362,344,2391,795,050
2009-10-12$25.72$25.0023.3%7.8%20.1%3.0%28.8%4.1%-1.1%52.8M-2.37B-13.3M0.334.01N/AN/A51,28116,6832,348,2041,791,483
2009-10-13$25.81$25.0023.2%7.8%19.9%3.5%27.5%3.7%-1.3%53.7M-2.48B-13.2M0.482.35N/AN/A62,85030,3482,348,1741,793,986
2009-10-14$25.96$25.0021.7%8.0%20.0%1.2%27.9%3.5%-1.7%56.5M-2.60B-13.1M0.293.20N/AN/A65,25219,2522,353,0911,795,417
2009-10-15$26.71$25.0025.6%7.3%22.2%7.5%29.7%2.3%-0.7%50.3M-3.02B-13.0M0.222.90N/AN/A267,83358,8352,374,0551,793,863
2009-10-16$26.50$24.0025.4%7.3%22.4%7.2%25.6%1.9%-0.9%53.6M-2.93B-13.5M0.423.40N/AN/A85,63935,6532,437,9791,823,867
2009-10-19$26.36$24.0026.3%7.5%22.6%8.6%26.2%2.1%-1.8%42.1M-1.82B-13.5M0.942.59N/AN/A45,08742,3391,992,1141,437,794
2009-10-20$26.37$24.0027.0%7.7%21.8%9.7%30.3%2.8%-1.9%41.8M-1.82B-13.4M0.672.68N/AN/A127,82285,3362,012,2581,452,313
2009-10-21$26.58$25.0028.4%8.1%21.9%12.0%28.8%2.5%-2.6%43.2M-2.05B-13.7M0.292.51N/AN/A112,09332,6582,064,9331,506,048
2009-10-22$26.59$25.0029.0%8.3%21.7%12.9%29.5%2.3%-3.1%48.0M-2.03B-14.0M0.733.91N/AN/A125,91891,3682,117,3891,491,103
2009-10-23$28.02$25.0023.3%6.7%27.4%3.8%23.9%1.4%0.1%58.9M-2.95B-13.2M0.413.87N/AN/A446,427180,9142,154,8781,515,984
2009-10-26$28.68$25.0024.0%6.9%28.1%4.9%24.6%1.5%0.2%64.9M-3.35B-13.5M0.342.52N/AN/A196,43166,4942,257,2121,568,678
2009-10-27$28.59$25.0023.5%6.7%28.1%4.2%24.8%2.3%1.2%66.5M-3.26B-14.1M0.563.66N/AN/A65,37836,3102,311,7371,565,805
2009-10-28$28.02$26.0026.4%7.6%29.5%8.8%27.1%2.7%0.4%61.6M-2.90B-14.6M0.642.40N/AN/A47,69530,3832,332,0051,585,092
2009-10-29$28.22$25.0024.6%7.1%25.9%5.9%25.1%2.7%0.5%64.7M-3.05B-14.3M0.983.09N/AN/A32,16331,4102,340,0471,588,173
2009-10-30$27.73$26.0027.5%7.9%27.3%10.6%29.0%4.1%0.4%58.2M-2.58B-15.6M1.063.13N/AN/A49,06951,7902,343,3671,599,551