MSFT Options History — August 2014

In August 2014, MSFT traded between $42.74 and $45.43. ATM implied volatility averaged 16.0%, placing in the 12.9% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded above realized volatility by 1.6% (HV 20d: 14.4%). Max pain ranged from $41.00 to $43.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.81.

Notable Days

  • 2014-08-18: Highest Volume — 1,187,552 contracts
  • 2014-08-14: Largest IV drop — 9.4% change
  • 2014-08-07: Highest IV Rank — 36.7%
  • 2014-08-07: Largest Expected Move — 6.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$44.26$42.74$45.43$42.86$45.43
Max Pain$41.71$41.00$43.00$42.00$42.00
ATM IV16.0%13.4%20.3%19.8%13.9%
Expected Move5.8%5.5%6.4%6.1%5.6%
HV 20d14.4%11.1%18.1%17.0%11.1%
HV 60d14.4%13.4%14.8%14.6%13.4%
IV Rank12.9%0.0%36.7%33.4%2.9%
IV Percentile13.9%0.0%44.8%39.7%2.8%
Term Structure0.3%-0.7%0.9%-0.7%0.7%
VWIV20.8%18.8%23.0%21.3%19.2%
Skew 25d1.3%0.9%1.5%1.1%1.4%
Skew 10d2.2%1.4%4.6%1.9%4.6%
Call IV 25d16.0%13.1%20.4%20.3%13.7%
Put IV 25d17.3%14.5%21.8%21.4%15.1%
Bid-Ask Spread %10.437.5612.9510.148.61
Gamma HHI0.140.110.370.120.12
Net GEX138.2M89.3M287.6M102.0M157.6M
Net DEX-2.89B-3.97B-2.42B-2.51B-2.86B
Net VEX-14.3M-15.6M-13.2M-15.1M-13.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.810.102.640.540.87
Total Volume176,19651,8781,187,552212,89361,926
Total OI2,679,829.2382,227,4513,034,1183,020,6432,385,751

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-08-01$42.86$42.0019.8%6.1%17.0%33.4%21.3%1.1%-0.7%102.0M-2.51B-15.1M0.5410.14N/AN/A138,01974,8741,889,2021,131,441
2014-08-04$43.37$43.0018.3%6.0%17.3%24.9%21.6%1.1%0.3%129.6M-2.98B-15.1M0.6810.53N/AN/A37,92525,6331,860,1771,065,509
2014-08-05$43.08$43.0019.4%6.2%17.4%31.4%22.2%1.5%0.2%113.3M-2.80B-14.9M0.659.58N/AN/A45,90529,8521,862,0471,074,364
2014-08-06$42.74$43.0019.7%6.2%17.7%32.8%22.2%0.9%0.1%89.3M-2.49B-15.2M0.5010.02N/AN/A72,18036,1231,876,0021,086,209
2014-08-07$43.23$42.0020.3%6.4%18.1%36.7%22.1%1.4%0.2%123.6M-2.91B-15.6M0.8010.73N/AN/A54,46843,3661,902,6381,098,469
2014-08-08$43.20$42.0019.0%6.3%17.9%29.0%22.4%1.2%0.2%118.4M-2.90B-15.1M0.9310.67N/AN/A53,49649,6041,920,1951,113,923
2014-08-11$43.20$42.0018.3%6.2%17.9%24.5%23.0%1.4%-0.2%117.9M-2.80B-14.7M0.2410.39N/AN/A170,12941,0741,881,6461,065,464
2014-08-12$43.52$42.0017.8%6.0%17.9%21.8%21.1%1.2%0.1%126.6M-2.99B-14.7M0.4312.02N/AN/A48,08620,4801,885,0941,084,360
2014-08-13$44.08$42.0016.7%6.0%12.5%15.0%20.7%1.1%-0.0%172.4M-3.56B-13.5M0.4811.98N/AN/A128,03461,0521,885,4131,090,607
2014-08-14$44.27$42.0015.1%5.9%12.0%5.7%21.8%1.2%-0.2%181.1M-3.61B-14.0M0.8812.08N/AN/A79,99870,4771,875,2281,097,287
2014-08-15$44.79$41.0014.3%5.7%12.7%1.0%21.0%1.4%-0.3%287.6M-3.97B-13.9M0.3212.91N/AN/A259,61081,9391,872,6131,125,682
2014-08-18$45.11$41.0014.1%5.6%12.9%0.0%19.8%1.1%0.7%134.1M-3.67B-13.6M0.1012.95N/AN/A1,083,367104,1851,467,125963,623
2014-08-19$45.33$41.0013.4%5.6%13.0%0.0%20.3%1.5%0.8%139.9M-2.76B-13.2M1.139.81N/AN/A93,467105,9301,223,0751,004,376
2014-08-20$44.95$41.0013.8%5.6%13.4%2.0%19.2%1.3%0.9%118.9M-2.46B-13.6M0.7210.36N/AN/A88,11563,8371,241,6651,045,807
2014-08-21$45.22$41.0013.7%5.6%12.9%1.5%20.7%1.4%0.8%148.7M-2.73B-14.2M0.8910.62N/AN/A62,38955,7531,329,4231,082,841
2014-08-22$45.15$41.0013.5%5.5%12.9%0.2%19.6%1.4%0.6%131.9M-2.63B-14.5M0.6910.61N/AN/A71,04349,2821,303,5211,101,685
2014-08-25$45.17$41.0013.6%5.5%12.0%1.1%18.8%1.1%0.8%135.5M-2.67B-13.7M0.799.49N/AN/A29,01722,8611,262,2381,057,791
2014-08-26$45.01$41.0013.5%5.5%12.1%0.3%19.6%1.2%0.9%131.4M-2.54B-13.9M1.159.31N/AN/A26,05429,8811,271,4961,064,774
2014-08-27$44.87$41.0013.7%5.6%11.8%1.3%20.1%1.2%0.7%122.3M-2.42B-13.9M1.547.56N/AN/A26,48940,9161,281,4061,071,235
2014-08-28$44.88$42.0014.3%5.5%11.1%4.8%20.6%1.5%0.6%119.3M-2.42B-14.3M2.648.73N/AN/A17,37445,9061,291,4191,083,593
2014-08-29$45.43$42.0013.9%5.6%11.1%2.9%19.2%1.4%0.7%157.6M-2.86B-13.8M0.878.61N/AN/A33,08028,8461,293,9601,091,791