MSFT Options History — October 2011

In October 2011, MSFT traded between $24.53 and $27.31. ATM implied volatility averaged 28.8%, placing in the 31.8% IV rank vs the trailing year. The 30-day expected move averaged 8.2%. IV traded above realized volatility by 2.3% (HV 20d: 26.6%). Max pain ranged from $26.00 to $27.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.77.

Notable Days

  • 2011-10-20: Highest Volume — 502,787 contracts
  • 2011-10-31: Largest IV spike — 25.2% change
  • 2011-10-03: Highest IV Rank — 66.0%
  • 2011-10-03: Largest Expected Move — 11.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$26.70$24.53$27.31$24.53$26.63
Max Pain$26.05$26.00$27.00$26.00$26.00
ATM IV28.8%20.2%46.0%46.0%25.3%
Expected Move8.2%6.1%11.8%11.8%6.5%
HV 20d26.6%21.6%30.4%26.7%22.2%
HV 60d32.6%31.5%33.8%32.3%31.5%
IV Rank31.8%14.7%66.0%66.0%24.9%
IV Percentile77.1%31.7%99.2%99.2%70.2%
Term Structure-0.8%-2.2%0.4%-1.9%0.4%
VWIV29.4%22.0%41.2%41.2%24.5%
Skew 25d7.2%4.7%9.6%8.7%5.0%
Skew 10d14.9%8.8%19.8%17.2%8.8%
Call IV 25d25.7%19.8%39.0%39.0%21.8%
Put IV 25d32.9%24.5%47.7%47.7%26.8%
Bid-Ask Spread %3.402.445.204.832.90
Gamma HHI0.110.080.180.080.10
Net GEX59.7M13.2M90.1M13.2M40.5M
Net DEX-1.12B-1.77B270.1M270.1M-811.3M
Net VEX-18.9M-19.9M-17.6M-18.5M-17.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.770.331.750.630.33
Total Volume179,178.8163,138502,787123,147131,952
Total OI4,088,936.4293,565,6584,578,6004,061,4873,780,570

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-10-03$24.53$26.0046.0%11.8%26.7%66.0%41.2%8.7%-1.9%13.2M270.1M-18.5M0.634.83N/AN/A75,55447,5932,314,5421,746,945
2011-10-04$25.34$26.0040.2%10.8%29.2%54.4%37.4%7.9%-0.8%30.0M-213.1M-19.3M0.893.56N/AN/A71,39963,8012,336,4311,759,678
2011-10-05$25.89$26.0033.7%9.8%29.4%41.6%35.2%7.7%-0.5%42.9M-588.7M-19.6M0.685.20N/AN/A121,26782,1892,329,7201,773,834
2011-10-06$26.34$26.0031.6%9.5%29.9%37.2%33.2%6.6%0.1%54.5M-961.3M-19.9M0.663.31N/AN/A37,94125,1972,356,4891,787,962
2011-10-07$26.25$26.0030.4%9.5%29.1%35.0%33.9%9.6%-1.2%49.5M-874.8M-19.6M1.093.60N/AN/A52,20056,9322,357,5581,790,309
2011-10-10$26.94$26.0025.9%8.4%30.4%26.1%31.3%8.9%-0.6%69.0M-1.36B-19.4M0.582.84N/AN/A72,03441,4872,344,6251,786,418
2011-10-11$27.00$26.0027.1%8.2%30.4%28.3%28.0%8.7%-0.4%73.3M-1.44B-19.4M0.502.77N/AN/A106,73952,8802,355,8851,788,587
2011-10-12$26.96$26.0030.8%8.0%29.8%35.7%28.0%7.6%-1.2%74.0M-1.39B-19.2M0.403.33N/AN/A267,364107,7722,376,0801,806,472
2011-10-13$27.18$26.0027.9%8.0%29.3%30.0%29.7%7.7%-1.4%85.2M-1.66B-19.6M0.932.44N/AN/A63,40758,7612,469,5691,830,085
2011-10-14$27.27$26.0027.8%8.0%29.2%29.7%27.7%7.0%-1.2%90.1M-1.77B-19.6M0.653.28N/AN/A97,44463,1112,483,1981,842,006
2011-10-17$26.98$26.0028.6%8.2%29.5%31.4%30.2%7.2%-1.4%79.5M-1.43B-19.2M0.972.79N/AN/A58,23356,5202,470,1821,849,709
2011-10-18$27.31$26.0028.0%8.0%29.6%30.1%28.1%6.7%-1.2%88.1M-1.76B-19.0M0.944.77N/AN/A47,52344,6732,467,7051,856,841
2011-10-19$27.13$26.0029.3%8.4%26.2%32.7%28.4%6.9%-1.5%81.2M-1.58B-19.2M0.802.71N/AN/A82,16365,7472,475,8521,867,486
2011-10-20$27.04$26.0030.1%8.6%22.0%34.3%31.0%6.8%-2.2%75.8M-1.44B-19.2M1.013.58N/AN/A250,118252,6692,496,4041,907,762
2011-10-21$27.16$26.0025.1%7.2%22.0%24.5%25.2%7.0%-0.2%85.7M-1.70B-18.7M0.733.06N/AN/A202,232147,6402,576,2952,002,305
2011-10-24$27.19$26.0023.8%6.8%21.6%21.8%24.7%6.6%-0.5%47.7M-1.15B-18.0M0.843.59N/AN/A81,95169,2362,042,7481,522,910
2011-10-25$26.81$26.0024.5%7.0%22.4%23.3%25.7%6.7%-0.2%38.1M-874.6M-18.3M1.753.79N/AN/A69,166120,7852,080,9931,544,764
2011-10-26$26.59$27.0024.7%7.1%22.6%23.7%27.1%6.7%-0.8%31.5M-688.1M-18.2M0.782.87N/AN/A109,16385,0012,097,6191,593,261
2011-10-27$27.25$26.0023.9%6.9%23.8%22.1%24.6%6.9%-1.1%56.0M-1.22B-18.4M0.492.96N/AN/A91,69145,1402,160,1641,627,832
2011-10-28$26.98$26.0020.2%6.1%22.4%14.7%22.0%4.7%0.0%48.2M-947.0M-17.9M0.633.28N/AN/A114,15771,9232,178,1921,631,678
2011-10-31$26.63$26.0025.3%6.5%22.2%24.9%24.5%5.0%0.4%40.5M-811.3M-17.6M0.332.90N/AN/A99,49932,4532,165,2651,615,305