MSFT Options History — August 2015

In August 2015, MSFT traded between $41.03 and $47.59. ATM implied volatility averaged 23.2%, placing in the 53.5% IV rank vs the trailing year. The 30-day expected move averaged 6.8%. IV traded below realized volatility by 1.5% (HV 20d: 24.7%). Max pain ranged from $45.00 to $46.00. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.65.

Notable Days

  • 2015-08-17: Highest Volume — 258,994 contracts
  • 2015-08-21: Largest IV spike — 32.0% change
  • 2015-08-21: Highest IV Rank — 100.0%
  • 2015-08-24: Largest Expected Move — 10.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$45.58$41.03$47.59$46.81$43.53
Max Pain$45.76$45.00$46.00$46.00$45.00
ATM IV23.2%18.1%36.1%18.7%29.1%
Expected Move6.8%5.2%10.9%5.5%8.5%
HV 20d24.7%18.4%32.9%20.8%32.9%
HV 60d19.6%17.7%24.2%17.9%24.2%
IV Rank53.5%31.7%100.0%35.7%68.3%
IV Percentile67.1%37.7%100.0%45.2%98.4%
Term Structure-0.2%-2.2%0.7%-0.2%-0.4%
VWIV23.8%17.7%36.2%19.5%29.5%
Skew 25d3.5%1.7%7.2%2.2%6.3%
Skew 10d7.2%3.4%15.6%4.2%13.1%
Call IV 25d21.7%17.3%32.7%17.5%26.2%
Put IV 25d25.2%19.6%39.9%19.7%32.6%
Bid-Ask Spread %10.065.6418.5110.2210.94
Gamma HHI0.130.080.410.110.09
Net GEX52.0M-98.7M124.8M74.3M28.3M
Net DEX-634.1M-1.56B802.8M-1.06B-50.5M
Net VEX-14.0M-14.8M-12.4M-14.7M-14.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.650.091.430.660.68
Total Volume107,228.52460,740258,99462,18466,454
Total OI2,031,009.6671,845,4742,136,6022,021,6352,029,922

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-08-03$46.81$46.0018.7%5.5%20.8%35.7%19.5%2.2%-0.2%74.3M-1.06B-14.7M0.6610.22N/AN/A37,56624,6181,120,034901,601
2015-08-04$47.59$46.0018.5%5.6%21.2%34.1%19.7%2.3%-0.2%98.3M-1.52B-14.4M0.455.96N/AN/A62,03727,8771,123,901912,912
2015-08-05$47.59$46.0018.6%5.5%21.3%35.1%19.4%2.3%-0.2%103.4M-1.56B-14.3M0.939.43N/AN/A45,24641,9381,143,787916,720
2015-08-06$46.66$46.0020.0%5.6%22.7%44.5%20.2%2.0%-0.2%64.7M-931.8M-14.8M0.947.78N/AN/A51,57448,7341,143,898930,285
2015-08-07$46.71$46.0019.9%5.7%22.8%43.7%20.6%2.3%-0.3%65.3M-1.00B-14.4M1.006.88N/AN/A36,11436,0861,156,217941,434
2015-08-10$47.27$46.0018.4%5.5%22.1%33.8%19.4%2.4%0.7%89.3M-1.31B-14.0M0.515.64N/AN/A40,15020,5901,137,929918,185
2015-08-11$46.41$46.0020.2%5.8%23.2%45.6%20.5%1.7%0.3%58.9M-857.1M-13.8M0.719.23N/AN/A38,02526,8581,151,728920,897
2015-08-12$46.78$46.0019.6%5.7%23.4%42.1%20.0%2.3%0.5%74.0M-1.06B-14.1M0.6010.60N/AN/A43,83826,4191,159,344924,806
2015-08-13$46.82$46.0019.5%5.7%22.3%41.4%20.9%1.9%0.5%75.0M-1.07B-14.0M0.467.45N/AN/A44,25020,2201,164,038924,057
2015-08-14$47.04$46.0018.4%5.3%22.3%33.4%18.7%2.0%0.4%124.8M-1.22B-13.8M0.328.97N/AN/A80,42326,0681,172,589929,898
2015-08-17$47.37$46.0018.3%5.3%22.3%33.2%21.1%2.3%0.0%105.7M-1.33B-13.7M0.096.85N/AN/A237,85721,1371,164,072909,626
2015-08-18$47.26$46.0018.1%5.2%22.3%31.7%17.7%2.4%0.2%107.5M-1.19B-13.5M0.356.18N/AN/A64,67122,3551,101,879913,463
2015-08-19$46.61$46.0018.9%5.4%18.4%37.0%19.2%2.3%0.7%75.7M-857.7M-13.5M0.819.86N/AN/A35,44628,6301,113,172919,855
2015-08-20$45.76$46.0021.9%6.3%19.0%57.4%22.1%2.4%-0.1%8.7M-443.0M-13.6M0.279.32N/AN/A123,00932,8661,127,677927,918
2015-08-21$43.39$46.0028.9%8.4%26.7%100.0%28.4%3.6%-1.0%-98.7M569.1M-13.5M1.4310.96N/AN/A91,476130,8311,197,858938,744
2015-08-24$42.24$46.0036.1%10.9%27.8%100.0%36.2%7.2%-2.2%4.5M442.5M-13.5M0.7118.51N/AN/A98,92469,9741,013,915831,559
2015-08-25$41.03$45.0034.3%10.4%29.1%92.1%35.2%6.9%-0.4%-3.8M802.8M-12.4M0.7215.19N/AN/A76,60054,9311,038,037847,054
2015-08-26$42.69$45.0031.6%9.3%31.9%80.1%31.7%6.6%-1.1%4.2M386.1M-13.7M0.9317.68N/AN/A51,93248,3851,071,559866,718
2015-08-27$43.73$45.0029.3%8.6%32.8%69.7%29.3%6.3%-1.0%16.4M21.1M-14.4M0.6014.70N/AN/A64,54638,8631,081,053872,035
2015-08-28$43.89$45.0028.3%8.3%32.9%64.8%29.4%6.1%-0.6%15.4M-69.9M-14.8M0.438.91N/AN/A80,15934,1221,110,684880,143
2015-08-31$43.53$45.0029.1%8.5%32.9%68.3%29.5%6.3%-0.4%28.3M-50.5M-14.8M0.6810.94N/AN/A39,47526,9791,168,094861,828