MSFT Options History — August 2010

In August 2010, MSFT traded between $23.47 and $26.33. ATM implied volatility averaged 25.0%, placing in the 44.9% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 5.6% (HV 20d: 19.3%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 21 of 22 days. Put/call ratio averaged 0.68.

Notable Days

  • 2010-08-16: Highest Volume — 726,098 contracts
  • 2010-08-06: Largest IV drop — 20.2% change
  • 2010-08-31: Highest IV Rank — 68.0%
  • 2010-08-31: Largest Expected Move — 8.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.71$23.47$26.33$26.33$23.47
Max Pain$25.00$25.00$25.00$25.00$25.00
ATM IV25.0%21.0%30.6%22.7%30.6%
Expected Move7.1%6.1%8.0%6.5%8.0%
HV 20d19.3%14.5%22.6%21.9%14.5%
HV 60d27.4%23.3%29.9%29.9%23.3%
IV Rank44.9%28.5%68.0%35.6%68.0%
IV Percentile60.0%24.2%90.5%37.3%90.5%
Term Structure1.7%-0.1%3.4%1.3%-0.1%
VWIV25.2%21.8%27.6%23.5%27.6%
Skew 25d3.7%2.9%4.8%4.0%3.5%
Skew 10d7.6%5.4%11.4%11.4%6.4%
Call IV 25d23.9%20.4%26.6%21.0%26.6%
Put IV 25d27.6%23.6%30.1%25.0%30.1%
Bid-Ask Spread %3.252.014.232.543.41
Gamma HHI0.110.080.140.140.09
Net GEX30.1M-1.1M74.8M74.8M181.2K
Net DEX286.8M-738.8M848.4M-738.8M848.4M
Net VEX-12.9M-15.2M-11.3M-15.2M-11.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.051.830.570.45
Total Volume144,375.86444,042726,09877,91997,944
Total OI3,625,124.3183,390,4753,831,2753,561,6763,558,693

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2010-08-02$26.33$25.0022.7%6.5%21.9%35.6%23.5%4.0%1.3%74.8M-738.8M-15.2M0.572.54N/AN/A49,69028,2292,165,6431,396,033
2010-08-03$26.16$25.0021.2%6.1%21.4%29.6%21.8%3.1%1.8%74.7M-591.2M-15.0M0.452.76N/AN/A52,24223,5462,175,3981,400,339
2010-08-04$25.73$25.0023.2%6.6%21.8%37.6%24.2%4.4%1.3%58.4M-287.8M-14.7M0.532.98N/AN/A95,68550,5452,184,4981,401,048
2010-08-05$25.37$25.0026.3%7.1%22.6%50.2%24.1%4.8%0.5%48.0M-38.1M-14.1M0.552.01N/AN/A64,04735,1742,202,3961,415,992
2010-08-06$25.55$25.0021.0%6.9%22.5%28.5%26.2%3.5%0.9%54.7M-168.8M-14.2M1.192.88N/AN/A37,73844,8672,214,1111,424,414
2010-08-09$25.61$25.0022.9%6.7%21.2%36.6%24.6%3.2%1.0%58.8M-224.8M-13.8M0.543.75N/AN/A28,57215,4702,220,0991,431,431
2010-08-10$25.07$25.0025.2%7.1%22.3%45.8%25.1%4.1%1.1%38.9M177.0M-13.2M0.804.23N/AN/A51,33441,1202,228,2611,435,762
2010-08-11$24.86$25.0026.7%7.5%22.0%52.2%26.8%4.1%1.4%32.7M263.6M-13.1M0.493.66N/AN/A82,37940,2042,240,0301,453,275
2010-08-12$24.49$25.0027.7%7.9%22.5%56.0%27.0%4.1%1.0%25.2M451.5M-12.9M0.203.90N/AN/A261,15153,2562,262,4441,458,988
2010-08-13$24.40$25.0027.0%7.7%20.8%53.2%27.1%3.5%1.4%23.5M517.1M-12.8M0.883.79N/AN/A44,87939,4492,280,3411,479,550
2010-08-16$24.50$25.0026.5%7.6%20.2%51.4%25.9%3.8%1.3%25.0M455.4M-12.5M0.053.22N/AN/A693,51032,5882,274,6891,485,470
2010-08-17$24.71$25.0023.9%6.8%20.1%40.4%24.5%3.8%2.0%32.7M356.7M-12.9M1.063.05N/AN/A38,11840,3772,252,6451,493,394
2010-08-18$24.82$25.0023.0%6.6%19.6%36.9%24.0%3.5%2.4%37.2M241.3M-12.9M0.093.38N/AN/A322,44729,2182,256,9441,505,827
2010-08-19$24.44$25.0025.0%7.2%17.1%45.2%24.5%3.6%2.5%26.8M520.3M-12.7M0.692.87N/AN/A46,57432,0432,312,8041,508,680
2010-08-20$24.23$25.0023.6%6.8%17.2%39.2%24.0%3.2%3.4%16.4M594.1M-12.3M0.793.11N/AN/A40,38231,8342,317,1771,514,098
2010-08-23$24.28$25.0023.9%6.8%16.5%40.4%24.0%4.3%3.0%15.7M518.0M-12.2M0.663.45N/AN/A45,92230,2612,035,5211,354,954
2010-08-24$24.04$25.0025.4%7.3%16.5%46.6%26.9%4.3%2.2%11.4M586.8M-12.0M1.833.57N/AN/A29,71554,3092,056,2941,366,171
2010-08-25$24.10$25.0025.7%7.4%16.6%48.0%25.8%3.6%1.6%7.8M599.8M-12.0M0.484.05N/AN/A60,57428,7812,069,7021,393,563
2010-08-26$23.82$25.0025.3%7.3%16.6%46.3%26.6%2.9%1.7%1.7M705.9M-11.7M0.413.04N/AN/A75,68430,7062,081,1051,401,040
2010-08-27$23.93$25.0025.2%6.9%16.8%45.8%25.3%3.2%2.8%-1.1M706.9M-11.7M1.372.82N/AN/A91,307125,1922,078,2401,408,171
2010-08-30$23.64$25.0027.0%7.1%14.5%53.3%25.7%3.2%2.3%-356.1K816.1M-11.4M0.872.95N/AN/A31,63827,5682,106,6001,450,900
2010-08-31$23.47$25.0030.6%8.0%14.5%68.0%27.6%3.5%-0.1%181.2K848.4M-11.3M0.453.41N/AN/A67,77230,1722,112,2961,446,397