MSFT Options History — June 2014

In June 2014, MSFT traded between $40.29 and $42.25. ATM implied volatility averaged 16.0%, placing in the 11.3% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded above realized volatility by 1.6% (HV 20d: 14.5%). Max pain ranged from $35.00 to $45.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 0.67.

Notable Days

  • 2014-06-13: Highest Volume — 187,989 contracts
  • 2014-06-23: Largest IV spike — 16.1% change
  • 2014-06-30: Highest IV Rank — 39.0%
  • 2014-06-03: Largest Expected Move — 6.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$41.36$40.29$42.25$40.79$41.70
Max Pain$37.50$35.00$45.00$35.00$45.00
ATM IV16.0%14.3%20.7%14.8%20.7%
Expected Move6.1%5.7%6.3%6.3%5.9%
HV 20d14.5%13.6%15.5%13.7%14.7%
HV 60d18.1%16.2%19.9%19.3%16.6%
IV Rank11.3%0.7%39.0%3.9%39.0%
IV Percentile12.0%0.8%44.4%2.8%44.4%
Term Structure1.2%-1.0%6.2%0.2%-0.7%
VWIV21.9%19.9%24.6%22.8%21.1%
Skew 25d1.7%1.2%2.3%1.3%2.1%
Skew 10d4.0%2.8%6.4%3.6%2.9%
Call IV 25d15.7%13.5%20.0%14.7%20.0%
Put IV 25d17.4%14.9%22.0%16.0%22.0%
Bid-Ask Spread %6.184.319.106.335.24
Gamma HHI0.180.160.200.180.19
Net GEX104.4M83.8M154.9M96.3M101.3M
Net DEX-2.70B-3.18B-2.02B-2.36B-2.78B
Net VEX-14.5M-15.6M-13.9M-15.3M-14.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.670.341.100.700.49
Total Volume106,877.85739,164187,98984,993172,378
Total OI2,421,330.9052,318,7002,525,3652,322,0762,404,232

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-06-02$40.79$35.0014.8%6.3%13.7%3.9%22.8%1.3%0.2%96.3M-2.36B-15.3M0.706.33N/AN/A50,04534,9481,316,9381,005,138
2014-06-03$40.29$35.0015.0%6.3%14.3%5.0%23.0%1.5%0.0%88.8M-2.02B-15.5M0.696.96N/AN/A46,11131,8931,329,2791,025,037
2014-06-04$40.32$35.0015.0%6.3%13.7%4.8%23.1%1.7%0.1%95.5M-2.04B-15.6M0.776.55N/AN/A46,19935,7601,348,5251,035,232
2014-06-05$41.21$35.0014.7%6.2%15.3%3.2%22.4%1.4%0.3%111.2M-2.73B-15.0M0.517.01N/AN/A80,90341,4021,352,0531,042,150
2014-06-06$41.48$35.0014.3%6.2%15.4%0.7%22.0%1.6%0.1%154.9M-2.92B-14.8M0.657.36N/AN/A89,73257,8931,365,2301,066,008
2014-06-09$41.27$35.0014.5%6.2%15.5%1.9%24.6%1.2%0.7%95.5M-2.66B-14.8M0.977.78N/AN/A58,35656,7601,342,8791,055,621
2014-06-10$41.11$35.0014.6%6.2%15.3%2.8%21.9%1.4%0.2%94.1M-2.56B-14.5M1.106.12N/AN/A19,00020,8821,348,8971,048,167
2014-06-11$40.86$35.0014.5%6.3%15.0%2.1%21.9%1.5%0.1%88.1M-2.34B-14.6M0.946.07N/AN/A20,22118,9431,350,6511,060,098
2014-06-12$40.58$35.0014.7%6.3%15.2%3.4%21.8%2.3%-0.1%83.8M-2.14B-14.5M0.835.89N/AN/A66,43355,4591,354,8141,059,354
2014-06-13$41.23$35.0015.2%6.2%14.8%6.2%23.0%1.6%0.2%101.0M-2.70B-14.4M0.346.05N/AN/A140,47247,5171,365,1711,078,177
2014-06-16$41.50$35.0015.8%6.2%14.8%9.8%22.5%1.4%4.3%113.9M-2.90B-14.4M0.374.98N/AN/A78,37029,1971,393,0091,044,926
2014-06-17$41.68$35.0014.9%6.2%14.8%4.5%21.9%1.8%5.6%118.2M-3.03B-14.2M0.414.38N/AN/A86,69435,2531,406,3281,060,518
2014-06-18$41.65$35.0014.8%6.2%14.7%3.7%21.7%1.5%5.9%123.2M-3.01B-14.2M0.624.31N/AN/A76,20347,2161,417,1291,064,200
2014-06-19$41.51$35.0014.3%6.1%13.8%1.1%21.0%1.5%5.9%108.7M-2.86B-14.2M0.637.39N/AN/A50,36031,4871,420,0061,083,280
2014-06-20$41.68$35.0014.8%6.1%13.6%4.2%22.5%1.4%6.2%111.1M-3.04B-14.1M0.546.60N/AN/A81,26743,6431,433,4261,091,939
2014-06-23$41.99$0.0017.2%5.7%13.7%18.4%20.0%1.8%-0.7%102.2M-2.95B-13.9M0.885.71N/AN/A83,82973,4291,333,522985,178
2014-06-24$41.75$45.0018.6%5.7%14.0%26.5%19.9%1.4%-0.4%97.9M-2.74B-14.2M0.634.83N/AN/A41,83126,5171,375,9641,031,560
2014-06-25$42.03$45.0019.0%5.7%13.9%28.9%20.2%2.3%-0.8%104.4M-2.97B-14.1M0.476.01N/AN/A46,32721,9511,384,1741,042,550
2014-06-26$41.72$45.0019.9%5.8%14.1%34.4%21.0%2.1%-0.4%96.4M-2.76B-14.2M0.925.22N/AN/A53,65949,5961,393,3801,047,726
2014-06-27$42.25$45.0019.6%5.7%13.9%32.1%21.3%2.2%-1.0%106.8M-3.18B-14.1M0.529.10N/AN/A63,36932,9301,414,7871,070,696
2014-06-30$41.70$45.0020.7%5.9%14.7%39.0%21.1%2.1%-0.7%101.3M-2.78B-14.1M0.495.24N/AN/A115,53756,8411,388,2591,015,973