MSFT Options History — April 2012

In April 2012, MSFT traded between $30.34 and $32.42. ATM implied volatility averaged 20.7%, placing in the 14.8% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded above realized volatility by 1.4% (HV 20d: 19.3%). Max pain ranged from $30.00 to $32.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 0.75.

Notable Days

  • 2012-04-25: Highest Volume — 487,416 contracts
  • 2012-04-09: Largest IV spike — 29.6% change
  • 2012-04-11: Highest IV Rank — 30.9%
  • 2012-04-10: Largest Expected Move — 7.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.50$30.34$32.42$32.29$32.02
Max Pain$30.55$30.00$32.00$30.00$32.00
ATM IV20.7%15.7%28.3%19.1%17.0%
Expected Move6.1%5.0%7.1%6.1%5.1%
HV 20d19.3%13.0%24.9%13.0%24.0%
HV 60d19.0%17.0%20.3%18.6%19.0%
IV Rank14.8%4.0%30.9%12.4%6.6%
IV Percentile35.5%1.6%79.0%24.2%6.0%
Term Structure-0.9%-1.9%0.4%-1.3%0.1%
VWIV21.7%17.7%25.5%21.3%18.6%
Skew 25d2.5%0.9%5.2%1.7%0.9%
Skew 10d5.7%1.5%12.3%3.4%1.5%
Call IV 25d20.2%16.8%22.5%20.4%17.5%
Put IV 25d22.8%18.3%27.6%22.1%18.3%
Bid-Ask Spread %3.952.308.044.305.10
Gamma HHI0.110.100.140.120.11
Net GEX73.4M50.8M91.5M77.3M80.8M
Net DEX-2.26B-3.46B-1.37B-2.91B-2.63B
Net VEX-17.3M-18.3M-15.7M-17.4M-17.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.750.152.080.560.51
Total Volume165,822.652,072487,41652,81952,072
Total OI3,399,482.653,029,7203,701,2513,350,0903,252,419

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2012-04-02$32.29$30.0019.1%6.1%13.0%12.4%21.3%1.7%-1.3%77.3M-2.91B-17.4M0.564.30N/AN/A33,89118,9281,893,9421,456,148
2012-04-03$31.94$30.0019.0%6.0%13.3%12.2%21.1%2.0%-1.1%72.4M-2.58B-18.1M0.793.49N/AN/A69,42754,6981,903,5031,463,602
2012-04-04$31.21$30.0020.6%6.6%15.4%15.5%23.0%1.9%-1.8%70.8M-2.08B-17.5M0.593.73N/AN/A72,96643,0651,928,1331,480,071
2012-04-05$31.52$30.0016.1%6.3%15.7%6.4%22.5%1.8%-1.6%73.4M-2.30B-17.6M0.913.79N/AN/A49,90745,6331,939,4031,480,596
2012-04-09$31.10$30.0020.8%6.5%16.3%15.8%22.5%3.3%-0.9%67.1M-2.03B-17.4M1.823.03N/AN/A49,27989,6941,931,0101,482,724
2012-04-10$30.47$30.0026.8%7.1%17.6%27.7%24.3%5.2%-0.9%50.8M-1.42B-18.3M0.814.50N/AN/A97,74178,7231,945,7131,530,164
2012-04-11$30.34$30.0028.3%7.0%15.6%30.9%25.5%4.3%-1.2%54.0M-1.37B-18.1M1.053.32N/AN/A84,72488,6651,960,4831,537,890
2012-04-12$30.98$30.0022.6%6.5%17.8%19.4%24.2%3.1%-0.6%66.9M-1.92B-17.8M0.693.63N/AN/A53,31636,9481,989,3051,572,979
2012-04-13$30.81$30.0023.5%6.7%17.7%21.3%23.2%3.2%-1.6%67.8M-1.73B-18.1M0.483.91N/AN/A64,86031,2671,990,8551,562,677
2012-04-16$31.07$30.0022.8%6.5%18.0%18.5%23.3%3.1%-1.2%72.1M-1.97B-17.8M0.753.00N/AN/A43,41632,3521,992,9431,556,723
2012-04-17$31.44$30.0022.6%6.5%18.3%17.9%23.2%3.0%-1.6%77.6M-2.34B-17.0M2.082.93N/AN/A49,846103,7232,002,1111,557,211
2012-04-18$31.14$31.0022.0%6.3%18.5%16.9%23.6%3.2%-1.0%72.0M-2.03B-16.9M0.372.89N/AN/A91,44034,0421,996,8011,557,016
2012-04-19$31.01$31.0023.4%6.7%18.5%19.7%23.3%2.7%-1.9%72.5M-1.94B-17.1M0.588.04N/AN/A274,105159,2482,025,1341,569,837
2012-04-20$32.42$31.0019.8%5.7%24.6%12.3%20.0%2.2%-0.7%86.3M-3.46B-16.1M0.306.23N/AN/A374,102111,0602,080,3201,620,931
2012-04-23$32.12$31.0019.5%5.6%24.9%11.7%20.1%2.0%-0.5%74.5M-2.43B-16.3M0.663.17N/AN/A69,31545,4181,722,3671,307,353
2012-04-24$31.92$31.0019.0%5.4%24.1%10.6%19.4%2.0%-0.7%72.7M-2.27B-15.8M0.773.09N/AN/A62,77248,5621,719,2741,323,119
2012-04-25$32.20$31.0018.1%5.2%24.3%9.0%18.3%2.0%-0.1%81.2M-2.45B-15.7M0.152.30N/AN/A424,04663,3701,739,8321,334,194
2012-04-26$32.11$31.0017.6%5.1%24.1%7.9%18.6%1.7%0.1%86.1M-2.68B-18.1M0.833.33N/AN/A56,53046,7051,916,9671,368,650
2012-04-27$31.98$32.0015.7%5.0%24.1%4.0%17.7%1.2%0.4%91.5M-2.57B-18.2M0.245.14N/AN/A88,85421,7421,923,8981,373,355
2012-04-30$32.02$32.0017.0%5.1%24.0%6.6%18.6%0.9%0.1%80.8M-2.63B-17.1M0.515.10N/AN/A34,52917,5431,893,4201,358,999