MSFT Options History — March 2010

In March 2010, MSFT traded between $28.46 and $30.01. ATM implied volatility averaged 19.5%, placing in the 5.7% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded above realized volatility by 6.0% (HV 20d: 13.5%). Max pain ranged from $28.00 to $29.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 23 of 23 days. Put/call ratio averaged 0.51.

Notable Days

  • 2010-03-25: Highest Volume — 156,842 contracts
  • 2010-03-11: Largest IV spike — 16.7% change
  • 2010-03-15: Highest IV Rank — 12.7%
  • 2010-03-15: Largest Expected Move — 6.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$29.26$28.46$30.01$29.02$29.29
Max Pain$28.17$28.00$29.00$29.00$28.00
ATM IV19.5%17.6%21.8%19.5%18.9%
Expected Move5.7%5.3%6.2%5.6%5.4%
HV 20d13.5%9.1%18.3%16.9%11.2%
HV 60d19.3%18.6%19.8%19.5%18.6%
IV Rank5.7%0.0%12.7%4.9%4.1%
IV Percentile7.9%0.0%18.3%6.0%6.3%
Term Structure2.9%0.7%5.3%1.2%5.3%
VWIV20.2%19.0%21.6%19.7%19.6%
Skew 25d1.6%0.3%2.8%2.8%0.3%
Skew 10d4.8%1.9%7.7%6.8%1.9%
Call IV 25d19.8%18.5%21.2%18.7%19.6%
Put IV 25d21.4%19.9%23.0%21.4%19.9%
Bid-Ask Spread %2.931.744.113.282.20
Gamma HHI0.210.170.270.170.27
Net GEX72.4M42.4M98.3M51.1M87.1M
Net DEX-1.37B-1.90B-821.3M-1.10B-1.37B
Net VEX-14.1M-15.0M-13.2M-13.2M-14.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.510.152.080.190.39
Total Volume96,600.21753,502156,84267,179123,089
Total OI2,650,770.872,404,4142,826,4682,404,4142,826,468

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2010-03-01$29.02$29.0019.5%5.6%16.9%4.9%19.7%2.8%1.2%51.1M-1.10B-13.2M0.193.28N/AN/A56,45510,7241,363,5081,040,906
2010-03-02$28.46$29.0021.6%6.2%18.3%10.5%21.0%1.9%0.7%44.6M-821.3M-13.3M0.503.89N/AN/A67,09133,3581,391,1231,043,496
2010-03-03$28.46$29.0020.1%5.8%18.3%6.6%20.2%1.8%1.6%42.4M-829.6M-13.3M0.603.80N/AN/A48,40229,2851,409,8741,049,505
2010-03-04$28.63$29.0018.4%5.3%18.3%2.1%19.0%1.5%2.1%50.0M-945.2M-13.6M0.594.08N/AN/A49,88129,4421,425,4201,066,012
2010-03-05$28.59$28.0017.7%5.8%15.0%0.3%20.8%2.4%2.2%48.0M-901.4M-13.4M2.082.92N/AN/A26,31054,6011,440,9021,079,393
2010-03-08$28.63$28.0019.1%5.9%14.9%3.8%20.8%1.5%2.2%52.0M-946.9M-13.4M0.593.65N/AN/A44,63526,3201,445,0701,096,252
2010-03-09$28.80$28.0017.9%5.8%14.3%0.8%20.5%1.8%2.2%54.8M-1.02B-13.5M0.394.11N/AN/A81,91131,6451,465,9101,104,266
2010-03-10$28.97$28.0017.6%5.9%14.0%0.0%20.9%1.9%2.3%66.2M-1.14B-13.6M0.152.88N/AN/A115,00017,5471,488,6951,112,438
2010-03-11$29.18$28.0020.5%5.9%14.1%8.9%21.0%1.9%3.0%76.3M-1.35B-14.2M0.813.29N/AN/A46,59137,7471,550,1901,116,566
2010-03-12$29.27$28.0020.5%5.9%14.1%8.8%20.8%2.3%2.9%71.8M-1.31B-14.3M0.512.40N/AN/A46,17623,3521,539,2351,134,293
2010-03-15$29.29$28.0021.8%6.2%13.7%12.7%21.6%1.8%1.8%80.1M-1.36B-14.0M0.353.04N/AN/A69,52224,1851,546,2641,141,632
2010-03-16$29.37$28.0020.3%5.8%12.9%8.1%20.7%1.8%2.4%85.2M-1.48B-14.1M0.253.21N/AN/A102,07525,0661,573,2191,149,218
2010-03-17$29.63$28.0019.8%5.7%12.9%6.5%20.2%1.7%2.5%98.3M-1.75B-13.9M0.262.97N/AN/A119,74331,3061,604,2621,145,401
2010-03-18$29.61$28.0019.5%5.6%12.2%5.8%20.1%1.9%2.3%98.1M-1.68B-14.5M0.582.36N/AN/A44,80025,9511,636,4001,152,043
2010-03-19$29.59$28.0019.8%5.7%11.9%6.8%20.3%2.0%2.1%75.2M-1.65B-14.5M0.331.74N/AN/A62,33020,6101,640,8001,155,707
2010-03-22$29.60$28.0019.1%5.5%11.8%4.4%19.4%1.8%4.3%73.4M-1.51B-14.3M0.562.31N/AN/A41,59423,3801,518,4501,073,458
2010-03-23$29.88$28.0019.3%5.5%10.6%5.0%20.0%1.1%4.0%80.1M-1.70B-14.0M0.382.23N/AN/A99,24237,6581,534,3571,084,854
2010-03-24$29.65$28.0019.8%5.7%10.8%6.5%20.1%0.8%3.9%81.6M-1.69B-14.7M0.363.49N/AN/A81,63129,5331,596,2731,106,537
2010-03-25$30.01$28.0020.1%5.8%11.3%7.6%20.3%0.9%3.8%87.0M-1.90B-14.8M0.381.93N/AN/A113,25543,5871,625,7531,124,912
2010-03-26$29.66$28.0019.8%5.7%12.4%6.5%20.1%0.9%4.2%83.4M-1.64B-15.0M0.563.61N/AN/A70,16739,1181,628,9631,126,130
2010-03-29$29.59$28.0019.0%5.4%11.8%4.2%19.3%1.1%4.7%89.2M-1.62B-14.9M0.382.16N/AN/A46,50517,4831,663,8191,144,771
2010-03-30$29.77$28.0019.2%5.5%9.1%4.9%19.4%0.8%4.3%88.7M-1.72B-14.9M0.551.89N/AN/A34,62918,8731,653,3151,151,670
2010-03-31$29.29$28.0018.9%5.4%11.2%4.1%19.6%0.3%5.3%87.1M-1.37B-14.3M0.392.20N/AN/A88,87534,2141,667,1071,159,361