MSFT Options History — December 2009

In December 2009, MSFT traded between $29.57 and $31.39. ATM implied volatility averaged 20.3%, placing in the 2.9% IV rank vs the trailing year. The 30-day expected move averaged 5.9%. IV traded above realized volatility by 4.7% (HV 20d: 15.6%). Max pain ranged from $25.00 to $28.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 0.57.

Notable Days

  • 2009-12-16: Highest Volume — 125,576 contracts
  • 2009-12-21: Largest IV drop — 8.5% change
  • 2009-12-03: Highest IV Rank — 7.1%
  • 2009-12-08: Largest Expected Move — 6.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.27$29.57$31.39$30.01$30.48
Max Pain$25.41$25.00$28.00$28.00$25.00
ATM IV20.3%18.2%22.7%22.7%19.0%
Expected Move5.9%5.2%6.6%6.5%5.4%
HV 20d15.6%13.8%17.3%17.3%15.5%
HV 60d20.9%19.9%21.7%20.9%20.1%
IV Rank2.9%0.0%7.1%6.6%1.9%
IV Percentile1.8%0.0%6.0%5.6%2.8%
Term Structure3.9%0.4%6.0%0.4%5.8%
VWIV21.4%18.6%24.3%22.9%18.6%
Skew 25d1.7%-0.1%2.8%2.3%1.8%
Skew 10d5.9%1.9%9.0%4.0%5.8%
Call IV 25d20.6%18.8%22.9%21.7%18.8%
Put IV 25d22.4%19.1%25.4%24.0%20.6%
Bid-Ask Spread %2.151.432.982.431.43
Gamma HHI0.220.170.330.180.23
Net GEX62.6M54.4M80.1M58.8M56.1M
Net DEX-2.52B-3.07B-2.10B-2.46B-2.59B
Net VEX-12.6M-13.7M-11.3M-13.2M-11.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.570.291.010.690.65
Total Volume70,367.68216,409125,57682,15167,083
Total OI3,559,091.5913,479,4983,670,2713,484,2723,537,693

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-12-01$30.01$28.0022.7%6.5%17.3%6.6%22.9%2.3%0.4%58.8M-2.46B-13.2M0.692.43N/AN/A48,66633,4851,827,9021,656,370
2009-12-02$29.78$28.0021.9%6.3%16.8%5.3%22.2%1.6%1.1%59.4M-2.33B-13.3M0.342.94N/AN/A37,60212,7831,834,9081,665,953
2009-12-03$29.83$28.0022.6%6.5%15.8%7.1%22.9%1.5%0.8%58.3M-2.24B-13.7M0.432.98N/AN/A46,51220,1231,844,8811,668,276
2009-12-04$29.98$25.0021.0%6.5%15.3%3.3%23.1%2.2%3.0%64.1M-2.51B-13.3M0.781.77N/AN/A47,17136,9781,863,5771,670,914
2009-12-07$29.79$25.0021.5%6.4%15.6%4.5%23.7%2.8%2.9%64.5M-2.25B-13.1M0.412.02N/AN/A57,45723,4141,860,3971,681,621
2009-12-08$29.57$25.0021.7%6.6%15.0%5.0%24.1%2.5%2.7%60.6M-2.10B-13.6M0.772.11N/AN/A41,16831,5211,892,5961,689,237
2009-12-09$29.71$25.0021.0%6.6%15.1%3.4%23.8%2.4%2.7%61.2M-2.19B-13.4M0.422.27N/AN/A50,77721,1061,879,4691,703,635
2009-12-10$29.87$25.0022.3%6.4%15.1%6.5%22.5%2.0%3.3%63.2M-2.43B-13.0M0.582.39N/AN/A38,91022,5561,893,1851,708,193
2009-12-11$29.85$25.0021.4%6.1%14.9%4.3%24.3%2.8%3.9%64.6M-2.27B-13.3M0.581.98N/AN/A33,73119,5511,897,1861,720,950
2009-12-14$30.11$25.0020.8%6.0%14.9%2.9%21.6%2.2%4.1%73.4M-2.48B-12.7M0.582.03N/AN/A26,45415,4301,905,1661,718,879
2009-12-15$30.02$25.0021.0%6.0%14.9%3.4%22.1%2.5%3.8%77.2M-2.43B-12.8M0.382.49N/AN/A51,30019,2401,909,5411,719,548
2009-12-16$30.10$25.0020.4%5.8%13.8%2.0%20.4%0.9%4.3%80.1M-2.62B-12.2M0.521.90N/AN/A82,48043,0961,910,0851,722,089
2009-12-17$29.60$25.0020.8%6.0%15.0%3.0%22.3%2.5%4.0%76.0M-2.17B-12.7M0.731.84N/AN/A44,13532,0211,920,6831,749,588
2009-12-18$30.36$25.0020.6%5.9%17.1%2.6%20.9%1.8%3.9%70.4M-2.67B-12.4M0.592.51N/AN/A76,43945,2281,912,5921,754,778
2009-12-21$30.52$25.0018.9%5.4%17.0%0.0%19.9%1.3%5.1%56.0M-2.57B-12.4M0.292.39N/AN/A57,35416,7201,811,3821,668,116
2009-12-22$30.82$25.0018.3%5.2%17.0%0.0%19.4%1.2%5.4%56.8M-2.74B-12.1M0.802.28N/AN/A54,53543,5041,823,3281,661,030
2009-12-23$30.92$25.0018.3%5.2%17.0%0.0%19.1%0.9%5.6%54.4M-2.78B-12.0M1.012.41N/AN/A22,47922,6201,828,5951,678,883
2009-12-24$31.00$25.0018.2%5.2%16.8%0.0%19.5%0.9%5.4%54.7M-2.79B-12.0M0.421.80N/AN/A11,5454,8641,832,4851,687,114
2009-12-28$31.17$25.0018.5%5.3%14.8%0.7%19.3%0.9%5.6%55.5M-2.92B-11.4M0.591.67N/AN/A20,69812,1271,834,3951,684,603
2009-12-29$31.39$25.0018.2%5.2%14.9%0.1%19.3%-0.1%5.7%56.1M-3.07B-11.3M0.351.63N/AN/A54,59919,0331,833,9121,690,260
2009-12-30$30.96$25.0018.2%5.2%14.6%0.1%20.1%1.3%6.0%56.6M-2.81B-11.7M0.722.04N/AN/A47,31534,2791,850,5021,695,518
2009-12-31$30.48$25.0019.0%5.4%15.5%1.9%18.6%1.8%5.8%56.1M-2.59B-11.8M0.651.43N/AN/A40,64326,4401,839,9791,697,714