MSFT Options History — October 2014

In October 2014, MSFT traded between $42.74 and $46.91. ATM implied volatility averaged 22.0%, placing in the 53.4% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded below realized volatility by 1.0% (HV 20d: 23.0%). Max pain ranged from $43.00 to $48.00. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 4 of 23 days. Put/call ratio averaged 1.09.

Notable Days

  • 2014-10-23: Highest Volume — 276,815 contracts
  • 2014-10-24: Largest IV drop — 19.4% change
  • 2014-10-16: Highest IV Rank — 94.3%
  • 2014-10-16: Largest Expected Move — 6.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$45.21$42.74$46.91$45.90$46.91
Max Pain$44.45$43.00$48.00$43.00$46.00
ATM IV22.0%16.9%28.2%21.4%16.9%
Expected Move6.0%5.6%6.6%5.8%5.6%
HV 20d23.0%15.1%27.9%16.5%27.9%
HV 60d17.3%14.9%19.3%15.0%19.3%
IV Rank53.4%22.1%94.3%45.3%22.1%
IV Percentile61.8%22.2%98.4%61.1%22.2%
Term Structure-0.6%-2.1%0.5%-0.8%-0.1%
VWIV21.3%19.6%24.1%20.7%20.4%
Skew 25d3.2%1.7%6.0%1.9%2.8%
Skew 10d6.5%4.1%13.0%4.2%4.6%
Call IV 25d20.9%15.4%26.4%20.9%15.7%
Put IV 25d24.1%18.3%32.1%22.8%18.5%
Bid-Ask Spread %10.106.3213.129.7711.95
Gamma HHI0.120.090.310.110.12
Net GEX52.1M-49.8M115.8M54.7M72.7M
Net DEX-1.88B-2.84B-534.5M-2.32B-2.78B
Net VEX-12.7M-13.7M-11.6M-12.7M-11.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.090.531.911.050.62
Total Volume113,584.52237,440276,81578,326138,353
Total OI2,247,088.7832,020,9182,399,7662,304,7072,201,496

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-10-01$45.90$43.0021.4%5.8%16.5%45.3%20.7%1.9%-0.8%54.7M-2.32B-12.7M1.059.77N/AN/A38,20240,1241,161,4761,143,231
2014-10-02$45.76$43.0020.9%5.7%16.4%42.8%20.3%1.7%-0.3%45.9M-2.18B-12.8M1.277.75N/AN/A29,14136,9411,173,2861,159,892
2014-10-03$46.09$43.0020.4%5.7%15.8%39.7%19.8%2.6%-0.2%3.6M-2.45B-12.5M0.909.65N/AN/A31,77528,7151,174,2781,167,910
2014-10-06$46.09$43.0021.0%5.7%15.1%43.1%19.7%2.5%-0.8%72.8M-2.46B-12.2M0.886.84N/AN/A19,87517,5651,145,9961,123,720
2014-10-07$45.53$43.0021.6%5.8%15.5%46.6%20.3%1.8%-0.7%56.3M-2.06B-12.9M1.008.26N/AN/A28,95828,8711,150,4741,129,016
2014-10-08$46.82$43.0020.4%5.7%18.6%39.9%20.6%3.0%-0.5%83.8M-2.84B-12.4M1.068.55N/AN/A47,49850,5211,154,4881,136,522
2014-10-09$45.85$43.0022.6%5.9%20.0%52.0%20.9%2.1%-1.0%62.6M-2.25B-13.0M1.2211.45N/AN/A64,51578,8871,166,1491,143,814
2014-10-10$44.03$44.0026.6%6.3%24.4%84.3%22.1%2.6%-1.2%-49.8M-1.06B-13.7M1.3510.78N/AN/A74,430100,5371,185,8211,164,566
2014-10-13$43.65$44.0027.6%6.5%24.3%90.2%23.3%3.2%-0.5%39.8M-994.1M-13.4M0.9810.06N/AN/A87,01085,2651,183,6051,129,484
2014-10-14$43.94$44.0025.1%6.3%24.0%74.7%24.1%4.4%-1.0%43.7M-1.14B-13.3M1.7110.93N/AN/A42,46172,4541,220,3481,129,498
2014-10-15$43.34$44.0027.1%6.6%24.3%87.6%23.7%6.0%-0.5%41.2M-840.3M-13.4M1.9111.68N/AN/A72,299138,4381,227,9751,126,111
2014-10-16$42.74$44.0028.2%6.6%24.4%94.3%23.4%5.0%-2.1%32.1M-534.5M-13.1M1.3310.94N/AN/A41,95555,8581,217,9041,159,956
2014-10-17$43.63$44.0025.2%6.2%24.8%75.5%22.1%4.9%-2.1%41.3M-1.08B-13.0M0.6011.84N/AN/A54,23932,4301,230,8571,168,909
2014-10-20$44.08$0.0024.6%6.4%25.2%71.4%22.8%4.1%-0.2%43.3M-1.30B-13.0M0.776.32N/AN/A47,25136,3411,046,919973,999
2014-10-21$44.88$45.0022.7%6.1%26.1%59.4%21.3%3.3%-1.0%51.8M-1.71B-12.9M1.2810.66N/AN/A36,10746,2521,073,361997,201
2014-10-22$44.39$45.0023.7%6.3%25.9%65.5%20.9%3.6%-0.8%48.1M-1.52B-12.8M1.7310.99N/AN/A38,22766,1211,084,2381,015,880
2014-10-23$45.03$48.0023.2%6.1%25.5%62.4%21.2%3.5%-1.0%47.4M-1.81B-12.8M0.9413.12N/AN/A142,570134,2451,079,8391,042,019
2014-10-24$46.07$47.0018.7%5.8%26.7%33.7%21.4%2.9%0.3%115.8M-2.50B-12.1M0.5611.02N/AN/A169,44395,6371,147,0611,104,749
2014-10-27$45.91$45.0017.8%5.7%26.7%27.8%21.0%3.2%0.5%69.1M-2.21B-12.4M0.948.57N/AN/A27,45925,9481,091,5451,050,638
2014-10-28$46.49$45.0016.9%5.7%27.1%22.3%19.6%3.1%0.1%78.7M-2.50B-12.1M0.538.98N/AN/A36,20919,1361,096,8181,059,250
2014-10-29$46.57$46.0016.9%5.6%26.8%22.4%20.1%2.8%0.4%79.6M-2.57B-11.8M1.1111.16N/AN/A38,06542,0711,097,9361,063,789
2014-10-30$46.02$46.0017.4%5.7%27.2%25.3%20.1%2.9%-0.0%64.7M-2.24B-12.1M1.3911.06N/AN/A30,92643,1191,104,8291,076,189
2014-10-31$46.91$46.0016.9%5.6%27.9%22.1%20.4%2.8%-0.1%72.7M-2.78B-11.6M0.6211.95N/AN/A85,57052,7831,113,2191,088,277