MSFT Options History — July 2013

In July 2013, MSFT traded between $31.39 and $36.27. ATM implied volatility averaged 20.8%, placing in the 49.7% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded below realized volatility by 10.7% (HV 20d: 31.5%). Max pain ranged from $32.00 to $34.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 2 of 22 days. Put/call ratio averaged 0.78.

Notable Days

  • 2013-07-19: Highest Volume — 1,036,288 contracts
  • 2013-07-10: Largest IV spike — 32.6% change
  • 2013-07-10: Highest IV Rank — 80.0%
  • 2013-07-03: Largest Expected Move — 7.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.65$31.39$36.27$34.36$31.84
Max Pain$32.64$32.00$34.00$32.00$32.00
ATM IV20.8%18.4%26.9%20.1%21.7%
Expected Move6.1%5.3%7.1%6.9%5.5%
HV 20d31.5%18.8%47.8%21.3%47.2%
HV 60d26.3%20.7%32.0%25.0%31.4%
IV Rank49.7%37.8%80.0%45.6%54.9%
IV Percentile58.5%30.2%98.0%50.8%74.2%
Term Structure-1.1%-2.6%0.8%-1.6%-0.2%
VWIV21.5%18.6%25.0%23.3%19.5%
Skew 25d2.2%0.9%3.5%2.7%0.9%
Skew 10d4.1%1.1%6.9%4.1%1.1%
Call IV 25d20.2%17.8%23.8%22.2%18.7%
Put IV 25d22.4%19.1%26.2%24.9%19.6%
Bid-Ask Spread %5.042.0611.245.864.00
Gamma HHI0.130.100.150.130.14
Net GEX75.2M37.8M104.6M85.7M66.1M
Net DEX-1.89B-3.62B61.3M-2.34B-775.9M
Net VEX-14.2M-15.7M-12.3M-15.6M-14.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.780.351.460.930.68
Total Volume167,062.40934,4651,036,28857,17577,328
Total OI2,784,237.7272,457,0043,032,4412,761,5222,730,217

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2013-07-01$34.36$32.0020.1%6.9%21.3%45.6%23.3%2.7%-1.6%85.7M-2.34B-15.6M0.935.86N/AN/A29,66927,5061,691,5961,069,926
2013-07-02$33.94$32.0019.0%7.0%20.9%39.9%25.0%2.5%-1.9%76.6M-2.07B-15.5M1.145.64N/AN/A47,42054,2721,696,6931,084,424
2013-07-03$34.01$32.0020.4%7.1%20.8%46.9%24.6%2.4%-2.1%73.6M-2.11B-15.7M0.574.25N/AN/A21,98712,4781,717,1791,119,960
2013-07-05$34.21$33.0019.0%6.5%20.9%39.9%22.8%3.4%-1.1%84.2M-2.26B-15.1M1.369.82N/AN/A28,02738,1271,722,6271,119,401
2013-07-08$34.33$33.0020.8%6.5%19.4%48.8%22.9%3.5%-1.3%87.8M-2.35B-14.9M1.015.15N/AN/A37,49937,8341,718,1351,106,295
2013-07-09$34.35$33.0020.3%6.4%19.4%46.6%22.4%3.4%-1.4%88.7M-2.37B-14.7M0.655.18N/AN/A42,05127,3091,719,5591,116,239
2013-07-10$34.70$33.0026.9%6.2%18.8%80.0%22.3%3.4%-1.1%95.7M-2.61B-14.6M0.405.55N/AN/A79,02031,7601,733,8721,135,424
2013-07-11$35.69$33.0020.8%6.0%21.3%49.2%21.3%2.8%-1.2%104.6M-3.33B-14.3M0.496.19N/AN/A140,22768,8921,757,8491,153,862
2013-07-12$35.67$33.0021.3%6.1%21.0%51.8%21.9%2.4%-1.4%100.7M-3.33B-14.2M1.468.72N/AN/A45,95767,2571,757,7321,177,872
2013-07-15$36.17$33.0021.7%6.2%21.1%53.5%22.2%2.6%-2.3%95.7M-3.52B-14.0M0.824.72N/AN/A89,54873,1721,741,5631,176,518
2013-07-16$36.27$33.0022.3%6.4%20.4%58.0%23.0%2.8%-2.6%94.8M-3.62B-14.2M0.734.73N/AN/A74,09853,8921,760,6431,192,559
2013-07-17$35.74$34.0021.8%6.3%21.2%55.4%22.5%2.0%-2.2%90.2M-3.25B-14.0M0.846.85N/AN/A67,42956,7011,772,2591,218,413
2013-07-18$35.44$34.0021.6%6.2%21.0%54.4%21.9%2.5%-1.8%89.0M-2.96B-14.1M1.3211.24N/AN/A96,730127,9151,758,1541,217,727
2013-07-19$31.40$34.0022.4%6.4%47.1%58.3%22.2%0.9%-1.5%37.8M61.3M-12.3M0.742.22N/AN/A596,933439,3551,770,1331,262,308
2013-07-22$32.01$32.0020.3%5.8%47.8%47.4%20.7%1.6%-0.8%58.0M-824.6M-13.0M0.404.22N/AN/A267,751107,4631,543,456913,548
2013-07-23$31.82$32.0018.8%5.4%47.4%39.8%19.0%1.4%-0.6%55.4M-695.3M-13.6M0.854.57N/AN/A71,32960,3861,596,581932,994
2013-07-24$31.96$32.0018.5%5.3%47.5%38.3%18.7%1.3%-0.4%64.5M-799.1M-13.5M0.492.06N/AN/A49,15824,0861,608,911948,371
2013-07-25$31.39$32.0019.1%5.5%47.0%41.4%19.3%1.4%-0.3%43.1M-420.9M-13.4M0.662.09N/AN/A90,14559,7181,627,569956,627
2013-07-26$31.62$32.0018.4%5.3%47.0%37.8%18.6%1.7%0.8%49.3M-585.4M-13.8M0.592.39N/AN/A86,09650,6671,650,900982,531
2013-07-29$31.54$32.0020.7%5.5%47.0%49.8%19.8%1.5%0.6%51.8M-579.7M-13.9M0.622.46N/AN/A59,91837,3651,637,825979,898
2013-07-30$31.85$32.0021.9%5.6%47.3%56.0%19.8%1.4%-0.4%61.3M-772.8M-14.3M0.353.03N/AN/A89,56831,3301,670,1601,004,720
2013-07-31$31.84$32.0021.7%5.5%47.2%54.9%19.5%0.9%-0.2%66.1M-775.9M-14.4M0.684.00N/AN/A46,06731,2611,709,1551,021,062