MSFT Options History — May 2013

In May 2013, MSFT traded between $32.66 and $35.08. ATM implied volatility averaged 19.9%, placing in the 44.5% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded below realized volatility by 4.5% (HV 20d: 24.4%). Max pain ranged from $30.00 to $32.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 18 of 22 days. Put/call ratio averaged 0.71.

Notable Days

  • 2013-05-13: Highest Volume — 2,709,925 contracts
  • 2013-05-02: Largest IV drop — 18.2% change
  • 2013-05-01: Highest IV Rank — 81.3%
  • 2013-05-01: Largest Expected Move — 6.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.95$32.66$35.08$32.72$34.90
Max Pain$31.41$30.00$32.00$30.00$32.00
ATM IV19.9%16.6%27.2%27.2%18.9%
Expected Move5.6%5.1%6.5%6.5%5.2%
HV 20d24.4%17.2%32.4%32.3%17.2%
HV 60d21.3%20.7%21.8%20.7%21.7%
IV Rank44.5%27.7%81.3%81.3%39.3%
IV Percentile44.1%15.5%96.8%96.8%33.3%
Term Structure0.9%-1.3%2.8%-0.9%2.8%
VWIV20.9%18.6%27.5%23.5%19.8%
Skew 25d3.4%2.6%5.0%3.6%3.2%
Skew 10d7.9%5.2%13.1%7.5%7.9%
Call IV 25d18.3%16.8%21.3%21.3%17.8%
Put IV 25d21.8%19.7%24.9%24.9%21.0%
Bid-Ask Spread %4.832.619.495.315.39
Gamma HHI0.140.110.170.140.13
Net GEX138.9M112.2M173.6M125.4M139.4M
Net DEX-3.47B-4.12B-2.95B-3.17B-3.67B
Net VEX-16.8M-17.7M-16.1M-16.1M-16.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.710.021.600.241.40
Total Volume256,406.559,9552,709,925323,440184,909
Total OI3,223,449.5452,957,5643,492,7593,195,9293,186,811

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2013-05-01$32.72$30.0027.2%6.5%32.3%81.3%23.5%3.6%-0.9%125.4M-3.17B-16.1M0.245.31N/AN/A260,53262,9082,109,6601,086,269
2013-05-02$33.16$30.0022.3%6.2%32.4%56.3%23.5%4.2%-1.0%143.0M-3.51B-16.6M0.797.83N/AN/A55,27443,6592,162,7091,105,140
2013-05-03$33.49$30.0021.0%6.2%32.3%50.2%22.8%3.8%-1.3%173.6M-3.81B-16.5M0.485.24N/AN/A114,46355,1912,173,6111,104,654
2013-05-06$33.75$30.0023.4%5.6%32.0%61.9%20.1%3.1%0.7%145.4M-3.99B-16.2M0.645.18N/AN/A94,15260,1472,180,2781,093,437
2013-05-07$33.31$31.0022.5%5.7%31.3%57.6%21.2%2.8%0.4%142.6M-3.60B-16.3M1.204.86N/AN/A57,50969,0282,199,7971,128,419
2013-05-08$32.99$31.0021.4%5.8%31.1%52.1%20.7%2.6%-0.1%140.0M-3.36B-16.4M0.497.74N/AN/A96,74347,2022,217,7671,168,515
2013-05-09$32.66$31.0020.7%5.8%25.7%48.4%20.8%2.8%0.4%138.4M-3.02B-17.6M0.999.49N/AN/A70,73770,2372,257,9781,184,720
2013-05-10$32.69$31.0019.1%5.6%25.4%40.4%20.9%2.6%0.4%146.6M-3.11B-16.7M0.542.61N/AN/A90,00648,3332,281,8941,203,499
2013-05-13$33.03$31.0019.7%5.6%25.2%43.6%27.5%2.6%0.6%156.6M-3.51B-16.6M0.024.71N/AN/A2,667,79142,1342,293,4551,199,304
2013-05-14$33.53$32.0018.9%5.4%25.3%39.2%20.2%3.0%0.8%151.7M-3.10B-16.4M0.825.70N/AN/A77,95563,8781,984,0531,212,070
2013-05-15$33.85$32.0016.6%5.3%24.9%27.7%19.4%2.7%1.0%158.8M-3.36B-16.7M0.803.92N/AN/A53,37442,9461,998,6281,233,553
2013-05-16$34.08$32.0018.2%5.2%24.7%36.0%18.8%3.0%1.2%158.7M-3.52B-16.1M0.463.36N/AN/A117,54954,6151,979,6551,234,448
2013-05-17$34.87$32.0017.9%5.1%23.5%34.2%19.3%2.8%1.4%135.6M-4.12B-16.5M0.625.24N/AN/A114,19270,8552,017,8191,261,688
2013-05-20$35.08$32.0017.6%5.1%21.2%32.9%18.6%2.9%1.7%120.9M-3.74B-16.3M0.543.40N/AN/A120,97664,7251,878,3811,079,183
2013-05-21$34.85$32.0017.9%5.1%21.2%34.2%18.6%3.3%2.0%129.6M-3.59B-17.5M0.583.74N/AN/A65,71538,0771,950,4951,103,019
2013-05-22$34.61$32.0018.2%5.2%18.3%36.1%19.8%3.7%1.4%121.8M-3.33B-17.2M0.973.13N/AN/A51,60450,2591,936,7651,117,305
2013-05-23$34.15$32.0020.2%5.8%19.3%45.9%22.6%4.2%0.9%112.2M-2.95B-17.7M1.244.09N/AN/A54,11466,9381,944,0871,132,210
2013-05-24$34.27$32.0019.4%5.6%19.1%41.8%19.6%4.4%1.3%124.4M-3.07B-17.4M1.603.30N/AN/A23,05236,9031,966,4061,150,745
2013-05-28$35.02$32.0019.1%5.5%18.5%40.2%20.2%5.0%1.5%123.4M-3.64B-17.1M0.565.25N/AN/A72,61740,9011,950,5991,153,851
2013-05-29$34.88$32.0019.0%5.5%18.2%40.1%21.5%4.9%1.7%132.0M-3.58B-17.0M0.422.69N/AN/A43,84118,3031,973,9731,170,478
2013-05-30$35.03$32.0019.1%5.5%17.4%40.3%19.8%4.2%1.9%136.6M-3.69B-17.0M0.314.04N/AN/A81,67724,9221,974,8541,173,708
2013-05-31$34.90$32.0018.9%5.2%17.2%39.3%19.8%3.2%2.8%139.4M-3.67B-16.8M1.405.39N/AN/A77,095107,8142,005,0551,181,756