MSFT Options History — April 2013

In April 2013, MSFT traded between $28.56 and $33.10. ATM implied volatility averaged 21.6%, placing in the 53.2% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded above realized volatility by 0.6% (HV 20d: 21.0%). Max pain ranged from $28.00 to $29.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 0.82.

Notable Days

  • 2013-04-25: Highest Volume — 651,290 contracts
  • 2013-04-09: Largest IV spike — 47.2% change
  • 2013-04-29: Highest IV Rank — 97.7%
  • 2013-04-18: Largest Expected Move — 7.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$29.87$28.56$33.10$28.61$33.10
Max Pain$28.64$28.00$29.00$28.00$29.00
ATM IV21.6%14.2%30.4%16.0%26.3%
Expected Move6.2%5.0%7.1%5.0%6.7%
HV 20d21.0%7.9%32.1%8.5%32.1%
HV 60d16.7%12.2%21.0%13.1%21.0%
IV Rank53.2%15.8%97.7%24.5%76.8%
IV Percentile59.9%2.0%99.2%9.5%96.0%
Term Structure-2.1%-3.8%-0.3%-0.5%-2.0%
VWIV22.1%17.9%25.8%17.9%25.8%
Skew 25d1.6%0.9%2.4%1.5%2.3%
Skew 10d3.4%1.7%6.4%3.3%6.4%
Call IV 25d21.2%17.7%24.7%17.7%22.0%
Put IV 25d22.8%19.3%26.8%19.3%24.3%
Bid-Ask Spread %4.102.268.534.516.22
Gamma HHI0.180.130.290.220.14
Net GEX78.2M42.5M127.9M72.7M127.9M
Net DEX-1.45B-3.45B-554.1M-823.3M-3.45B
Net VEX-13.4M-16.3M-11.9M-12.1M-15.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.820.252.660.500.52
Total Volume234,856.36454,107651,29061,368265,049
Total OI2,982,618.1822,522,7363,333,3892,790,3723,106,049

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2013-04-01$28.61$28.0016.0%5.0%8.5%24.5%17.9%1.5%-0.5%72.7M-823.3M-12.1M0.504.51N/AN/A41,03720,3311,839,127951,245
2013-04-02$28.80$28.0015.3%5.2%8.4%21.2%18.8%1.1%-1.4%85.8M-978.5M-12.0M1.118.53N/AN/A33,36537,0761,858,403958,213
2013-04-03$28.56$28.0018.6%5.7%8.7%38.1%20.3%1.6%-2.6%68.9M-773.0M-12.1M1.305.52N/AN/A34,56744,8121,864,100971,885
2013-04-04$28.60$28.0015.7%6.1%8.0%23.1%22.3%1.1%-3.1%66.9M-778.0M-12.4M0.907.82N/AN/A28,50925,5981,866,595991,341
2013-04-05$28.70$28.0014.2%5.3%8.0%15.8%19.3%1.9%-1.3%67.5M-827.3M-12.3M0.562.46N/AN/A42,17423,5661,877,440999,658
2013-04-08$28.59$28.0015.7%5.3%7.9%23.1%19.0%1.9%-1.5%66.2M-754.4M-11.9M1.623.44N/AN/A25,92841,9981,869,130993,315
2013-04-09$29.61$28.0023.1%5.6%14.2%60.5%19.9%1.5%-2.4%96.0M-1.54B-12.3M0.474.72N/AN/A215,768101,7201,874,068999,040
2013-04-10$30.28$28.0029.4%6.2%15.7%92.4%21.9%1.4%-3.5%98.3M-1.99B-12.9M0.783.00N/AN/A300,525233,0281,921,7721,055,152
2013-04-11$28.94$29.0021.6%6.2%23.6%53.0%21.9%1.0%-2.7%59.8M-736.5M-13.0M1.642.87N/AN/A158,351260,2781,994,2491,182,026
2013-04-12$28.79$29.0021.8%6.2%23.6%53.8%22.3%1.6%-2.7%42.5M-554.1M-13.0M0.522.26N/AN/A113,68759,1932,027,7611,273,227
2013-04-15$28.69$29.0023.6%6.8%23.6%63.1%24.5%1.6%-3.8%48.6M-599.4M-12.8M0.723.42N/AN/A47,98734,4112,018,8521,202,111
2013-04-16$28.97$29.0023.7%6.8%23.8%63.6%24.5%1.4%-3.6%51.5M-809.3M-12.9M0.532.77N/AN/A123,23164,9272,004,1081,208,830
2013-04-17$28.83$29.0024.8%7.1%23.9%69.1%25.4%1.8%-3.3%45.5M-738.7M-13.3M2.663.43N/AN/A61,387163,3612,028,6931,244,911
2013-04-18$28.79$29.0024.9%7.1%23.8%69.6%25.6%2.2%-3.0%53.6M-706.9M-13.2M0.855.43N/AN/A174,262147,4632,036,6401,220,056
2013-04-19$29.77$29.0019.0%5.4%26.3%39.7%19.4%2.4%-0.3%95.8M-1.62B-12.9M0.402.77N/AN/A273,895109,4852,080,3621,253,027
2013-04-22$30.83$29.0020.7%5.9%28.6%48.3%20.9%1.6%-1.1%82.2M-1.80B-13.3M0.412.39N/AN/A281,023115,0631,628,937893,799
2013-04-23$30.60$29.0020.2%5.8%28.8%45.7%21.4%1.8%-1.1%83.9M-1.68B-14.0M0.572.90N/AN/A107,62461,5191,729,190931,123
2013-04-24$31.76$29.0022.9%6.6%31.0%59.5%23.5%0.9%-1.2%89.7M-2.48B-14.9M0.443.20N/AN/A214,52394,3361,774,730945,953
2013-04-25$31.94$29.0024.2%6.9%31.0%66.2%24.4%1.5%-2.1%96.8M-2.61B-15.1M0.482.58N/AN/A438,968212,3221,848,403968,837
2013-04-26$31.79$29.0024.1%6.6%31.3%65.6%23.4%1.5%-1.6%108.6M-2.55B-16.3M0.872.80N/AN/A73,54164,3062,052,0871,056,807
2013-04-29$32.61$29.0030.4%6.9%32.0%97.7%24.7%2.2%-2.0%112.0M-3.02B-16.3M0.257.15N/AN/A156,87539,7711,997,1651,019,183
2013-04-30$33.10$29.0026.3%6.7%32.1%76.8%25.8%2.3%-2.0%127.9M-3.45B-15.8M0.526.22N/AN/A174,40990,6402,072,0321,034,017