MSFT Options History — August 2013

In August 2013, MSFT traded between $31.39 and $34.75. ATM implied volatility averaged 22.6%, placing in the 59.2% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded below realized volatility by 14.1% (HV 20d: 36.7%). Max pain ranged from $32.00 to $33.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 0.50.

Notable Days

  • 2013-08-23: Highest Volume — 1,051,608 contracts
  • 2013-08-14: Largest IV spike — 19.6% change
  • 2013-08-15: Highest IV Rank — 80.6%
  • 2013-08-15: Largest Expected Move — 7.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$32.48$31.39$34.75$31.67$33.40
Max Pain$32.23$32.00$33.00$32.00$33.00
ATM IV22.6%15.9%26.7%18.6%21.1%
Expected Move6.7%4.9%7.7%5.3%7.6%
HV 20d36.7%18.1%47.3%47.1%33.9%
HV 60d32.5%31.2%35.3%31.3%35.2%
IV Rank59.2%24.9%80.6%38.9%51.8%
IV Percentile71.4%10.3%98.4%31.7%60.7%
Term Structure-0.8%-2.2%1.2%0.6%-1.4%
VWIV23.9%17.3%27.5%18.7%26.5%
Skew 25d0.7%-0.7%1.7%1.1%1.3%
Skew 10d1.6%-1.1%3.8%1.5%3.7%
Call IV 25d23.4%16.8%27.4%18.1%26.0%
Put IV 25d24.1%17.7%27.3%19.2%27.3%
Bid-Ask Spread %5.063.039.613.565.33
Gamma HHI0.140.130.160.140.13
Net GEX110.9M61.7M179.7M62.8M170.0M
Net DEX-1.52B-3.92B-569.6M-642.5M-2.21B
Net VEX-17.6M-21.0M-14.0M-14.1M-21.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.500.051.110.550.81
Total Volume265,000.59139,0751,051,608107,87199,487
Total OI3,347,534.8182,763,6793,931,5772,763,6793,931,577

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2013-08-01$31.67$32.0018.6%5.3%47.1%38.9%18.7%1.1%0.6%62.8M-642.5M-14.1M0.553.56N/AN/A69,67838,1931,728,1821,035,497
2013-08-02$31.89$32.0015.9%4.9%47.2%24.9%17.3%0.9%1.2%71.6M-737.0M-14.4M0.453.52N/AN/A43,66819,5701,751,0071,049,344
2013-08-05$31.70$32.0018.4%5.1%47.1%37.7%18.1%1.4%1.0%63.4M-653.4M-14.0M0.696.03N/AN/A23,07615,9991,747,3851,038,948
2013-08-06$31.58$32.0018.2%5.1%47.1%36.5%18.1%1.6%1.0%61.7M-569.6M-14.0M0.744.32N/AN/A55,71540,9621,759,7901,045,819
2013-08-07$32.06$32.0019.8%6.0%47.3%45.2%21.1%1.2%0.2%73.3M-919.9M-14.9M0.199.61N/AN/A262,73350,7671,788,0591,071,709
2013-08-08$32.89$32.0021.3%6.3%47.1%52.7%22.4%0.2%-0.5%108.1M-1.77B-16.2M0.169.18N/AN/A596,51793,3071,939,3121,085,276
2013-08-09$32.70$32.0019.8%6.3%47.1%44.9%22.3%0.6%-0.8%124.4M-1.70B-17.0M0.455.32N/AN/A90,32841,0272,209,0651,114,909
2013-08-12$32.87$32.0022.8%6.5%46.7%60.7%26.5%1.1%-0.9%133.6M-1.85B-17.0M0.054.40N/AN/A804,79339,6862,204,3001,102,892
2013-08-13$32.23$32.0019.0%6.6%46.9%41.1%23.3%0.4%-1.2%95.0M-1.16B-16.7M0.385.66N/AN/A123,54446,3922,126,0681,121,036
2013-08-14$32.35$32.0022.8%7.0%46.9%60.3%24.7%0.1%-1.0%107.8M-1.36B-17.5M0.424.48N/AN/A170,07271,3112,184,1421,128,019
2013-08-15$31.79$32.0026.7%7.7%47.1%80.6%27.5%-0.1%-1.4%78.0M-970.5M-17.7M0.494.80N/AN/A228,799111,5042,265,4991,164,948
2013-08-16$31.80$32.0026.1%7.5%18.8%77.7%27.4%-0.2%-1.3%83.1M-982.1M-18.3M0.254.34N/AN/A221,84556,0112,377,0631,236,799
2013-08-19$31.39$32.0025.8%7.4%18.1%76.0%27.3%-0.1%-1.5%92.0M-910.3M-17.5M0.213.83N/AN/A152,73831,8422,250,4391,109,764
2013-08-20$31.62$32.0025.6%7.3%18.2%74.8%26.8%-0.7%-1.6%105.3M-1.13B-18.0M0.233.88N/AN/A65,64115,3772,308,7051,127,961
2013-08-21$31.61$32.0026.1%7.5%18.1%77.5%27.0%-0.5%-2.1%104.6M-1.09B-17.9M0.293.75N/AN/A106,17331,0452,314,6541,136,185
2013-08-22$32.39$32.0025.7%7.4%18.9%75.5%26.1%0.5%-2.2%141.0M-1.72B-18.9M0.425.95N/AN/A88,05837,0002,348,4751,148,934
2013-08-23$34.75$32.0024.3%7.0%30.9%68.2%25.0%1.7%-1.6%179.7M-3.92B-19.5M0.633.03N/AN/A643,998407,6102,372,0241,157,263
2013-08-26$34.15$33.0024.2%6.9%31.8%67.9%24.7%1.6%-1.5%163.4M-3.01B-20.2M1.113.83N/AN/A154,399170,9132,416,9651,275,217
2013-08-27$33.26$33.0024.3%7.0%33.5%68.3%24.6%1.1%-1.1%136.2M-2.02B-20.5M1.094.84N/AN/A111,770122,2192,452,5261,338,250
2013-08-28$33.02$33.0023.9%6.9%33.6%66.2%24.1%0.9%-0.6%134.8M-1.77B-20.2M0.764.62N/AN/A64,53848,8122,459,8931,365,633
2013-08-29$33.55$33.0025.7%7.4%33.9%75.4%26.0%1.1%-1.6%149.1M-2.35B-21.0M0.596.97N/AN/A102,29460,6022,487,5501,368,683
2013-08-30$33.40$33.0021.1%7.6%33.9%51.8%26.5%1.3%-1.4%170.0M-2.21B-21.0M0.815.33N/AN/A54,90744,5802,536,8711,394,706