MSFT Options History — April 2015

In April 2015, MSFT traded between $40.37 and $49.07. ATM implied volatility averaged 22.4%, placing in the 60.7% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded below realized volatility by 2.6% (HV 20d: 25.0%). Max pain ranged from $43.00 to $43.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.93.

Notable Days

  • 2015-04-24: Highest Volume — 634,676 contracts
  • 2015-04-24: Largest IV drop — 16.9% change
  • 2015-04-01: Highest IV Rank — 79.6%
  • 2015-04-21: Largest Expected Move — 7.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.46$40.37$49.07$40.69$48.63
Max Pain$43.00$43.00$43.00$43.00$43.00
ATM IV22.4%18.2%25.2%25.2%18.9%
Expected Move6.3%5.2%7.3%5.6%5.7%
HV 20d25.0%18.6%38.6%20.6%38.6%
HV 60d28.4%21.6%29.8%29.3%27.1%
IV Rank60.7%32.7%79.6%79.6%36.7%
IV Percentile76.5%50.0%91.7%91.7%54.8%
Term Structure-0.8%-1.9%0.0%-1.0%-0.1%
VWIV22.2%18.2%25.4%19.2%20.0%
Skew 25d3.0%1.3%3.8%3.4%1.9%
Skew 10d5.6%2.3%7.2%6.7%2.3%
Call IV 25d21.0%17.1%23.7%23.7%17.8%
Put IV 25d24.0%18.4%27.1%27.1%19.6%
Bid-Ask Spread %10.245.5215.318.6712.68
Gamma HHI0.100.070.140.070.12
Net GEX35.2M-25.6M96.9M8.9M79.8M
Net DEX-649.8M-3.43B1.08B866.0M-3.12B
Net VEX-14.0M-15.1M-13.0M-13.5M-15.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.930.491.560.690.90
Total Volume152,122.04842,329634,67670,734128,097
Total OI2,171,229.4291,834,7572,298,7062,221,1152,239,937

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-04-01$40.69$43.0025.2%5.6%20.6%79.6%19.2%3.4%-1.0%8.9M866.0M-13.5M0.698.67N/AN/A41,89528,8391,236,859984,256
2015-04-02$40.37$43.0024.6%6.7%20.6%75.5%23.0%3.4%-1.0%-25.6M1.08B-13.0M1.096.84N/AN/A50,45355,0231,252,464993,142
2015-04-06$41.58$43.0023.6%6.3%22.8%69.1%22.1%3.1%-1.2%1.7M365.9M-14.0M0.6911.71N/AN/A72,52950,2881,202,356993,032
2015-04-07$41.56$43.0023.6%6.3%22.3%68.9%22.6%3.1%-1.1%-3.7M408.4M-14.2M1.136.92N/AN/A37,47642,2861,217,5691,009,828
2015-04-08$41.42$43.0023.8%6.6%21.3%70.6%23.8%3.5%-1.0%-8.4M495.0M-13.9M1.1510.42N/AN/A34,71340,0531,218,1501,007,429
2015-04-09$41.48$43.0023.4%6.6%21.3%67.9%21.8%3.3%-0.7%-5.9M481.2M-13.8M0.995.52N/AN/A21,23321,0961,232,0011,017,278
2015-04-10$41.72$43.0023.4%6.4%19.7%67.4%22.7%3.2%-1.8%4.2M331.8M-13.8M0.508.17N/AN/A65,61232,8541,237,3871,020,596
2015-04-13$41.78$43.0022.5%6.4%19.5%61.4%22.2%3.4%-0.5%111.4K331.6M-13.4M1.567.34N/AN/A32,98451,6041,214,9941,015,005
2015-04-14$41.62$43.0022.7%6.4%19.5%62.6%23.1%3.3%-0.1%1.7M356.4M-13.6M1.198.50N/AN/A31,82837,8091,226,383994,850
2015-04-15$42.26$43.0022.4%6.4%20.2%61.0%22.9%3.5%-1.1%18.5M-736.9K-13.8M0.6110.81N/AN/A90,89155,5071,239,8351,012,138
2015-04-16$42.22$43.0022.1%6.3%19.0%58.7%22.4%3.4%-0.4%23.1M-34.3M-13.7M0.939.77N/AN/A33,53431,2351,265,7901,028,050
2015-04-17$41.60$43.0022.9%6.6%19.6%64.4%23.0%3.6%0.0%25.4M406.2M-13.1M1.517.35N/AN/A48,99173,7381,264,8201,033,886
2015-04-20$42.94$43.0024.5%7.2%22.2%75.1%25.4%3.6%-1.8%46.2M-529.2M-14.1M0.5614.41N/AN/A177,994100,4881,006,250828,507
2015-04-21$42.66$43.0024.7%7.3%22.3%76.2%25.4%3.6%-1.5%57.8M-476.8M-14.5M0.8612.05N/AN/A47,60841,0421,108,446880,137
2015-04-22$43.02$43.0024.0%7.1%22.6%71.4%25.3%3.8%-1.9%69.1M-668.2M-14.6M0.9912.42N/AN/A53,32953,0481,120,904888,808
2015-04-23$43.29$43.0022.8%6.9%18.6%63.7%24.1%3.1%-1.5%78.1M-826.1M-14.6M0.8415.31N/AN/A170,596143,2521,136,524913,350
2015-04-24$47.75$43.0019.0%5.4%38.6%37.6%18.2%1.8%-0.2%95.2M-3.37B-14.0M0.4913.23N/AN/A425,710208,9661,196,693966,979
2015-04-27$47.98$43.0018.2%5.2%38.2%32.7%18.3%1.3%-0.4%96.9M-2.95B-14.8M0.939.27N/AN/A91,19284,9361,145,880941,758
2015-04-28$49.04$43.0018.3%5.4%38.4%32.8%19.0%1.7%-0.3%90.1M-3.43B-14.3M0.9110.68N/AN/A105,62196,5051,164,723951,773
2015-04-29$49.07$43.0019.4%6.1%38.2%40.7%21.1%1.6%-0.2%86.4M-3.37B-15.0M0.9113.02N/AN/A96,02287,6861,194,602992,449
2015-04-30$48.63$43.0018.9%5.7%38.6%36.7%20.0%1.9%-0.1%79.8M-3.12B-15.1M0.9012.68N/AN/A67,36160,7361,219,7641,020,173