MSFT Options History — January 2015

In January 2015, MSFT traded between $40.39 and $47.59. ATM implied volatility averaged 24.0%, placing in the 68.9% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded below realized volatility by 2.4% (HV 20d: 26.4%). Max pain ranged from $43.00 to $43.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 0.77.

Notable Days

  • 2015-01-27: Highest Volume — 794,254 contracts
  • 2015-01-30: Largest IV spike — 9.2% change
  • 2015-01-15: Highest IV Rank — 86.8%
  • 2015-01-15: Largest Expected Move — 7.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$45.51$40.39$47.59$46.79$40.39
Max Pain$43.00$43.00$43.00$43.00$43.00
ATM IV24.0%21.3%27.0%23.3%24.4%
Expected Move6.9%6.3%7.7%6.4%7.5%
HV 20d26.4%18.8%43.5%23.1%43.5%
HV 60d22.0%19.6%29.6%22.2%29.6%
IV Rank68.9%53.6%86.8%63.0%74.0%
IV Percentile83.0%72.2%95.6%79.0%86.5%
Term Structure-0.6%-1.2%0.2%-0.8%-0.4%
VWIV24.3%22.1%26.5%22.5%25.8%
Skew 25d2.7%1.0%3.4%3.4%1.9%
Skew 10d5.5%2.3%8.4%5.4%2.8%
Call IV 25d23.0%20.3%25.8%22.4%23.9%
Put IV 25d25.7%22.1%28.4%25.8%25.8%
Bid-Ask Spread %8.595.7712.618.0111.39
Gamma HHI0.130.100.160.130.10
Net GEX42.7M-1.5M77.7M57.9M2.1M
Net DEX-842.1M-1.90B1.24B-1.39B1.24B
Net VEX-11.5M-12.6M-10.7M-11.0M-12.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.770.251.380.960.79
Total Volume192,708.5556,479794,25481,272205,500
Total OI1,925,778.451,421,3332,294,6352,031,5072,115,550

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-01-02$46.79$43.0023.3%6.4%23.1%63.0%22.5%3.4%-0.8%57.9M-1.39B-11.0M0.968.01N/AN/A41,49739,775999,2571,032,250
2015-01-05$46.33$43.0024.4%6.9%22.5%69.9%24.6%2.9%-0.6%48.1M-1.19B-10.9M0.865.77N/AN/A30,31526,164989,6991,026,974
2015-01-06$45.65$43.0026.2%7.2%22.8%81.4%25.1%2.6%-0.6%36.4M-848.1M-10.9M0.786.86N/AN/A64,19850,280998,3431,034,181
2015-01-07$46.23$43.0025.3%6.9%23.0%76.0%25.0%2.9%-0.8%43.0M-1.15B-11.0M0.479.70N/AN/A67,05731,4431,007,3401,053,070
2015-01-08$47.59$43.0024.1%6.6%25.4%68.1%23.0%3.3%-0.6%77.7M-1.90B-10.8M0.596.47N/AN/A84,06649,2301,021,0461,062,617
2015-01-09$47.21$43.0023.8%6.6%24.9%66.5%24.1%3.0%-1.0%68.8M-1.75B-10.7M1.217.44N/AN/A52,84563,9241,031,6251,068,226
2015-01-12$46.68$43.0025.0%7.0%25.1%73.9%25.0%2.7%-1.0%54.9M-1.41B-10.7M0.668.14N/AN/A54,18435,5221,019,1191,069,346
2015-01-13$46.30$43.0024.9%7.1%25.3%73.5%24.1%3.2%0.1%49.6M-1.23B-10.8M0.257.13N/AN/A132,93433,2641,036,9431,077,787
2015-01-14$45.95$43.0026.0%7.3%25.4%80.5%25.9%3.3%-0.6%50.7M-1.08B-11.2M0.758.30N/AN/A56,59542,4261,101,5501,086,160
2015-01-15$45.50$43.0027.0%7.7%22.5%86.8%26.5%2.6%0.2%40.4M-826.5M-11.2M0.567.02N/AN/A120,42267,1081,118,2221,096,270
2015-01-16$46.24$43.0024.9%7.0%22.8%73.6%25.3%3.2%-0.7%40.1M-1.33B-12.1M1.387.66N/AN/A74,966103,7411,163,4711,131,164
2015-01-20$46.39$43.0023.9%6.8%18.8%67.2%24.8%3.1%-0.4%46.5M-1.07B-11.9M0.677.44N/AN/A67,64145,477835,416585,917
2015-01-21$45.92$43.0023.4%6.7%18.9%66.9%24.4%3.1%-0.4%37.6M-843.8M-12.2M1.057.55N/AN/A66,57369,691868,189617,778
2015-01-22$47.06$43.0022.4%6.5%21.0%60.3%22.9%2.8%-1.2%56.4M-1.38B-12.5M0.889.33N/AN/A77,68968,425888,259654,431
2015-01-23$47.11$43.0021.5%6.3%20.4%54.5%22.7%2.6%-1.0%53.7M-1.46B-12.5M1.267.56N/AN/A82,371103,733914,045672,807
2015-01-26$47.01$43.0022.5%6.8%20.2%61.6%23.9%2.4%-0.9%67.0M-1.48B-12.3M0.6911.83N/AN/A179,030122,749928,080619,936
2015-01-27$42.66$43.0021.3%6.4%39.6%53.6%22.1%1.8%-0.7%12.5M569.5M-10.8M0.5812.61N/AN/A501,106293,1481,002,594675,424
2015-01-28$41.24$43.0023.3%7.1%40.9%66.6%23.9%1.0%0.1%-1.5M1.00B-11.5M0.5612.31N/AN/A222,414125,6371,126,816788,376
2015-01-29$42.02$43.0022.3%6.6%41.9%60.1%23.5%2.5%-0.5%12.3M680.0M-12.6M0.549.31N/AN/A194,879106,1521,170,981826,310
2015-01-30$40.39$43.0024.4%7.5%43.5%74.0%25.8%1.9%-0.4%2.1M1.24B-12.2M0.7911.39N/AN/A114,94290,5581,252,642862,908