MSFT Options History — February 2014

In February 2014, MSFT traded between $35.82 and $38.31. ATM implied volatility averaged 19.5%, placing in the 42.3% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded below realized volatility by 4.7% (HV 20d: 24.2%). Max pain ranged from $32.00 to $35.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.71.

Notable Days

  • 2014-02-14: Highest Volume — 557,956 contracts
  • 2014-02-07: Largest IV drop — 10.4% change
  • 2014-02-03: Highest IV Rank — 72.4%
  • 2014-02-05: Largest Expected Move — 7.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$37.24$35.82$38.31$36.48$38.31
Max Pain$32.79$32.00$35.00$32.00$32.00
ATM IV19.5%17.5%25.5%25.5%17.7%
Expected Move7.0%6.7%7.4%7.4%6.7%
HV 20d24.2%19.8%29.6%29.6%20.1%
HV 60d21.5%20.9%23.4%23.4%21.0%
IV Rank42.3%32.1%72.4%72.4%33.0%
IV Percentile28.9%11.1%80.2%80.2%13.1%
Term Structure0.2%-0.4%0.9%-0.1%0.3%
VWIV24.6%23.2%27.0%26.4%24.1%
Skew 25d2.2%1.4%3.4%3.2%1.8%
Skew 10d4.5%2.9%6.3%5.6%4.2%
Call IV 25d18.9%16.9%24.3%24.3%17.2%
Put IV 25d21.1%18.7%27.5%27.5%19.0%
Bid-Ask Spread %5.493.419.247.354.39
Gamma HHI0.190.120.620.120.16
Net GEX111.4M44.1M417.3M71.8M110.3M
Net DEX-1.78B-2.39B-867.5M-1.42B-2.36B
Net VEX-17.4M-18.2M-16.7M-17.9M-17.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.710.101.931.150.46
Total Volume143,945.52650,505557,956168,004156,920
Total OI2,780,089.1052,476,6622,996,0632,757,1022,559,177

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-02-03$36.48$32.0025.5%7.4%29.6%72.4%26.4%3.2%-0.1%71.8M-1.42B-17.9M1.157.35N/AN/A78,04089,9641,629,3761,127,726
2014-02-04$36.35$32.0022.9%7.3%28.6%59.3%25.7%2.9%0.3%63.0M-1.23B-18.1M0.768.27N/AN/A103,27778,8871,642,0341,165,268
2014-02-05$35.82$32.0023.8%7.4%28.9%63.6%27.0%3.4%-0.4%44.1M-867.5M-18.2M0.949.24N/AN/A62,08558,0601,683,0321,184,228
2014-02-06$36.18$32.0022.2%7.3%28.4%55.8%25.9%3.0%0.1%55.2M-1.11B-18.2M1.063.91N/AN/A67,13670,9311,684,7191,197,713
2014-02-07$36.56$32.0019.9%7.1%28.5%44.2%24.0%2.5%0.6%64.7M-1.40B-17.6M0.698.04N/AN/A63,98944,0721,708,0821,238,259
2014-02-10$36.80$32.0020.2%7.1%28.2%45.9%24.4%1.8%-0.2%75.6M-1.54B-17.4M0.944.40N/AN/A36,36534,2791,668,2601,212,863
2014-02-11$37.17$32.0020.0%7.1%25.8%44.5%24.9%2.0%-0.2%93.0M-1.83B-17.4M0.495.82N/AN/A61,95830,0941,669,5371,225,958
2014-02-12$37.47$32.0019.4%7.1%24.9%41.5%25.0%2.1%0.5%107.7M-2.05B-17.4M0.263.41N/AN/A140,67536,0191,674,2561,228,736
2014-02-13$37.61$32.0018.9%7.0%23.1%39.2%23.9%1.9%-0.2%121.9M-2.35B-17.5M0.114.90N/AN/A189,80420,1041,733,1781,241,475
2014-02-14$37.62$32.0018.5%7.0%23.1%37.0%24.2%1.9%-0.1%120.2M-2.39B-17.4M0.105.29N/AN/A508,20349,7531,754,8841,241,179
2014-02-18$37.42$35.0018.4%7.0%22.6%36.7%24.8%2.1%0.3%105.1M-1.70B-17.3M1.935.10N/AN/A32,31162,4871,576,2051,229,044
2014-02-19$37.51$35.0017.9%6.9%22.4%34.2%24.5%1.7%0.8%113.7M-1.77B-16.9M0.875.19N/AN/A60,53152,8501,585,2531,253,453
2014-02-20$37.75$35.0017.5%6.9%22.2%32.1%24.1%1.7%0.9%159.8M-1.98B-16.7M0.295.52N/AN/A70,92720,8571,609,6511,228,340
2014-02-21$37.98$35.0017.7%6.8%22.3%32.9%24.2%1.4%0.6%417.3M-2.21B-17.1M0.414.85N/AN/A119,94448,6981,628,1901,228,227
2014-02-24$37.69$35.0017.5%6.8%21.5%32.1%23.9%2.1%0.3%98.1M-1.96B-16.9M0.834.98N/AN/A51,15142,4281,481,454995,208
2014-02-25$37.54$32.0017.6%6.7%19.9%32.6%23.2%2.0%0.4%93.9M-1.84B-17.0M0.564.35N/AN/A37,66421,0701,481,1341,009,391
2014-02-26$37.47$32.0018.1%6.7%19.8%35.0%24.0%2.0%0.3%93.7M-1.80B-16.8M0.704.71N/AN/A48,68734,2401,490,0501,016,608
2014-02-27$37.86$32.0017.6%6.7%19.8%32.5%23.3%2.0%0.4%107.9M-2.07B-16.9M1.014.64N/AN/A25,08325,4221,506,9591,032,586
2014-02-28$38.31$32.0017.7%6.7%20.1%33.0%24.1%1.8%0.3%110.3M-2.36B-17.1M0.464.39N/AN/A107,25049,6701,513,0161,046,161