MSFT Options History — April 2014

In April 2014, MSFT traded between $39.18 and $41.42. ATM implied volatility averaged 24.4%, placing in the 56.9% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 1.0% (HV 20d: 23.4%). Max pain ranged from $35.00 to $35.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.73.

Notable Days

  • 2014-04-24: Highest Volume — 261,111 contracts
  • 2014-04-25: Largest IV drop — 21.0% change
  • 2014-04-11: Highest IV Rank — 80.1%
  • 2014-04-10: Largest Expected Move — 6.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$40.13$39.18$41.42$41.42$40.40
Max Pain$35.00$35.00$35.00$35.00$35.00
ATM IV24.4%18.5%28.0%24.6%18.5%
Expected Move6.4%6.3%6.5%6.3%6.4%
HV 20d23.4%20.6%27.2%22.2%20.6%
HV 60d21.6%19.2%22.7%22.6%19.2%
IV Rank56.9%17.3%80.1%61.6%17.3%
IV Percentile68.6%13.9%96.4%74.6%13.9%
Term Structure-0.8%-1.7%0.1%-0.9%0.1%
VWIV23.0%21.8%24.9%22.6%21.9%
Skew 25d2.6%1.9%3.3%2.4%2.0%
Skew 10d5.1%3.0%7.1%6.7%3.8%
Call IV 25d23.5%18.0%27.0%23.7%18.0%
Put IV 25d26.0%20.0%30.0%26.0%20.0%
Bid-Ask Spread %6.514.558.635.898.62
Gamma HHI0.210.140.620.140.20
Net GEX109.0M68.8M227.8M118.1M102.5M
Net DEX-2.81B-3.94B-2.13B-3.94B-2.53B
Net VEX-16.2M-17.0M-15.3M-16.4M-15.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.730.361.350.360.68
Total Volume126,367.33357,530261,111146,262121,697
Total OI2,581,089.4762,197,7222,785,8922,684,4192,387,813

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-04-01$41.42$35.0024.6%6.3%22.2%61.6%22.6%2.4%-0.9%118.1M-3.94B-16.4M0.365.89N/AN/A107,72738,5351,615,2401,069,179
2014-04-02$41.35$35.0025.0%6.4%21.9%64.2%22.9%2.5%-1.0%120.0M-3.91B-16.4M0.836.17N/AN/A41,62934,6131,633,2201,079,212
2014-04-03$41.01$35.0024.9%6.3%22.3%63.8%24.9%2.2%-1.4%116.6M-3.64B-16.8M0.705.73N/AN/A57,32340,1081,640,3341,093,858
2014-04-04$39.87$35.0026.3%6.4%24.8%71.9%23.2%2.5%-1.6%106.3M-2.82B-16.8M0.775.70N/AN/A105,39081,0441,648,4061,107,768
2014-04-07$39.80$35.0026.9%6.4%24.8%73.4%23.4%2.5%-0.3%108.0M-2.81B-17.0M0.867.18N/AN/A49,26542,1861,631,9501,065,722
2014-04-08$39.82$35.0026.4%6.4%24.8%69.5%23.4%2.9%-0.8%110.3M-2.81B-16.9M1.036.13N/AN/A42,75543,8421,643,0341,077,288
2014-04-09$40.47$35.0026.2%6.5%25.2%68.3%24.1%2.4%-0.5%123.1M-3.27B-16.8M0.465.50N/AN/A83,61938,3941,646,8111,088,186
2014-04-10$39.36$35.0027.3%6.5%27.2%75.5%23.4%2.6%-0.7%99.1M-2.52B-17.0M0.674.93N/AN/A83,17955,6571,668,7141,095,687
2014-04-11$39.21$35.0028.0%6.5%27.1%80.1%23.6%3.0%-0.6%101.0M-2.45B-16.9M0.905.67N/AN/A61,50255,2111,685,9791,099,913
2014-04-14$39.18$35.0027.6%6.5%27.0%77.4%22.9%2.8%-0.7%96.1M-2.40B-16.6M0.504.55N/AN/A58,88929,5081,663,9471,088,800
2014-04-15$39.75$35.0026.9%6.5%23.7%72.5%22.1%2.9%-0.5%110.0M-2.86B-16.5M0.508.63N/AN/A110,51054,9391,678,1851,095,971
2014-04-16$40.40$35.0025.3%6.4%24.2%62.4%22.6%2.5%-1.1%126.7M-3.25B-16.2M0.585.97N/AN/A57,66833,6431,646,3981,100,629
2014-04-17$40.01$35.0024.4%6.4%22.6%55.9%23.8%2.8%-0.6%227.8M-3.00B-16.1M0.607.57N/AN/A90,82054,2141,651,8321,109,895
2014-04-21$39.94$35.0023.9%6.3%22.6%52.7%22.5%2.9%-1.7%72.5M-2.31B-15.4M1.097.88N/AN/A45,92750,0611,346,648851,074
2014-04-22$39.99$35.0023.3%6.3%22.3%49.1%22.4%3.3%-1.0%74.9M-2.31B-15.5M0.976.29N/AN/A29,21628,3141,370,948881,789
2014-04-23$39.69$35.0023.7%6.3%22.4%51.6%22.6%2.9%-1.0%68.8M-2.13B-15.3M0.856.49N/AN/A40,32734,2121,376,292901,017
2014-04-24$39.86$35.0024.8%6.3%22.0%58.8%22.6%2.8%-1.3%71.7M-2.23B-15.6M0.608.15N/AN/A163,65297,4591,392,766912,996
2014-04-25$39.91$35.0019.6%6.3%21.6%24.3%22.6%2.5%-0.5%131.7M-2.29B-15.5M0.576.86N/AN/A126,80672,6831,463,616962,313
2014-04-28$40.87$35.0019.4%6.4%21.6%23.1%21.8%1.9%-0.2%102.8M-2.85B-15.6M0.386.72N/AN/A126,57648,4981,424,350919,493
2014-04-29$40.51$35.0019.1%6.4%21.0%21.4%22.9%1.9%0.0%101.8M-2.63B-15.6M1.356.12N/AN/A49,37766,7391,449,134936,472
2014-04-30$40.40$35.0018.5%6.4%20.6%17.3%21.9%2.0%0.1%102.5M-2.53B-15.4M0.688.62N/AN/A72,51049,1871,453,721934,092