MSFT Options History — December 2010

In December 2010, MSFT traded between $26.04 and $28.30. ATM implied volatility averaged 20.0%, placing in the 24.4% IV rank vs the trailing year. The 30-day expected move averaged 5.9%. IV traded above realized volatility by 0.5% (HV 20d: 19.5%). Max pain ranged from $25.00 to $26.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 0.55.

Notable Days

  • 2010-12-02: Highest Volume — 275,766 contracts
  • 2010-12-10: Largest IV drop — 16.7% change
  • 2010-12-01: Highest IV Rank — 41.9%
  • 2010-12-01: Largest Expected Move — 6.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$27.55$26.04$28.30$26.04$27.91
Max Pain$25.14$25.00$26.00$26.00$25.00
ATM IV20.0%17.5%24.2%24.2%17.9%
Expected Move5.9%5.5%6.3%6.3%6.0%
HV 20d19.5%10.4%22.3%18.7%10.4%
HV 60d19.5%18.0%22.0%21.1%18.0%
IV Rank24.4%14.5%41.9%41.9%16.1%
IV Percentile20.1%0.4%57.1%57.1%2.8%
Term Structure3.4%1.0%4.8%1.0%3.8%
VWIV21.5%19.8%23.0%22.6%21.9%
Skew 25d1.8%0.9%2.8%2.8%2.2%
Skew 10d4.6%1.9%7.4%5.4%3.8%
Call IV 25d20.7%19.1%22.1%21.5%20.8%
Put IV 25d22.5%20.6%24.3%24.3%23.0%
Bid-Ask Spread %2.241.463.462.891.70
Gamma HHI0.160.120.270.130.17
Net GEX80.1M48.8M110.2M48.8M70.8M
Net DEX-1.81B-2.30B-766.3M-766.3M-1.98B
Net VEX-15.9M-16.8M-14.1M-14.4M-16.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.550.241.090.610.44
Total Volume112,014.90931,887275,766120,09971,056
Total OI3,786,636.8643,515,1804,024,6003,587,1363,857,313

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2010-12-01$26.04$26.0024.2%6.3%18.7%41.9%22.6%2.8%1.0%48.8M-766.3M-14.4M0.612.89N/AN/A74,54245,5572,068,5301,518,606
2010-12-02$26.89$26.0022.1%6.2%21.9%33.0%22.4%1.2%1.3%63.5M-1.31B-14.6M0.352.83N/AN/A204,71771,0492,078,7971,528,248
2010-12-03$27.02$26.0018.6%5.5%21.9%18.6%20.2%1.4%2.8%64.5M-1.45B-14.7M0.783.19N/AN/A73,09556,8522,123,9111,548,962
2010-12-06$26.84$25.0020.3%6.2%21.7%25.6%22.1%1.6%3.7%79.4M-1.39B-14.1M0.302.49N/AN/A83,63424,9932,102,0831,545,435
2010-12-07$26.87$25.0019.0%6.2%21.7%20.5%23.0%2.4%3.4%71.2M-1.30B-14.7M0.302.63N/AN/A133,40239,8822,117,6791,554,396
2010-12-08$27.23$25.0018.9%6.1%22.2%19.9%21.9%0.9%4.0%86.8M-1.78B-15.2M0.313.46N/AN/A206,64063,0722,192,4231,557,655
2010-12-09$27.08$25.0021.1%6.1%22.3%28.9%22.2%1.6%4.0%70.1M-1.52B-16.5M0.733.13N/AN/A63,56446,6312,274,7831,572,513
2010-12-10$27.34$25.0017.5%6.1%22.2%14.5%22.3%1.5%4.2%85.7M-1.82B-16.6M0.282.12N/AN/A91,36925,5792,327,3991,602,915
2010-12-13$27.25$25.0018.8%6.0%21.4%19.7%22.9%1.0%4.2%90.3M-1.72B-16.2M0.382.17N/AN/A64,64424,3272,345,2691,596,598
2010-12-14$27.62$25.0020.0%5.9%21.7%24.5%21.5%1.8%3.1%96.1M-2.05B-16.7M0.282.51N/AN/A130,67936,4092,380,3661,603,157
2010-12-15$27.85$25.0021.4%6.1%20.7%30.4%22.4%2.3%2.8%98.6M-2.19B-16.8M0.481.84N/AN/A85,11140,5922,348,2421,605,754
2010-12-16$27.99$25.0020.8%5.9%20.1%27.6%21.2%1.9%3.1%110.2M-2.30B-16.8M0.351.87N/AN/A79,53627,7242,388,5761,636,024
2010-12-17$27.90$25.0019.8%5.7%20.2%23.9%21.4%2.7%4.1%106.5M-1.84B-15.8M0.241.73N/AN/A61,32514,7292,143,1961,371,984
2010-12-20$27.81$25.0019.3%5.5%20.0%21.6%20.0%1.5%3.6%74.8M-1.87B-16.2M1.061.83N/AN/A39,80942,0572,240,7051,496,317
2010-12-21$28.07$25.0020.1%5.8%20.1%24.8%20.3%1.8%3.1%70.6M-2.03B-16.3M0.932.11N/AN/A52,74448,8492,233,2651,516,015
2010-12-22$28.19$25.0019.7%5.7%17.1%23.4%19.8%1.7%3.5%74.6M-2.12B-16.2M0.472.29N/AN/A59,93328,3412,252,2481,532,553
2010-12-23$28.30$25.0019.1%5.5%17.0%21.1%20.0%1.8%4.8%83.4M-2.21B-16.6M0.511.82N/AN/A45,87323,3032,261,6131,541,164
2010-12-27$28.07$25.0021.1%6.1%17.3%29.1%21.3%1.8%3.2%82.2M-2.13B-16.3M0.931.87N/AN/A19,41318,0912,263,7101,534,908
2010-12-28$28.01$25.0020.7%5.9%17.5%27.6%21.3%2.2%3.7%79.3M-2.09B-16.2M0.721.46N/AN/A31,26022,5332,258,6081,542,187
2010-12-29$27.97$25.0020.5%5.9%17.5%26.8%21.1%1.5%3.6%78.3M-2.05B-16.3M0.581.67N/AN/A20,12111,7662,266,4711,551,594
2010-12-30$27.85$25.0018.0%5.9%15.0%16.4%21.0%2.0%3.7%75.6M-1.96B-16.1M1.091.58N/AN/A28,47331,0522,267,7821,556,057
2010-12-31$27.91$25.0017.9%6.0%10.4%16.1%21.9%2.2%3.8%70.8M-1.98B-16.3M0.441.70N/AN/A49,33721,7192,279,1301,578,183