MSFT Options History — September 2015

In September 2015, MSFT traded between $41.85 and $44.29. ATM implied volatility averaged 28.2%, placing in the 63.5% IV rank vs the trailing year. The 30-day expected move averaged 7.5%. IV traded below realized volatility by 6.7% (HV 20d: 34.9%). Max pain ranged from $44.00 to $45.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.97.

Notable Days

  • 2015-09-01: Highest Volume — 142,573 contracts
  • 2015-09-08: Largest IV drop — 14.7% change
  • 2015-09-01: Highest IV Rank — 93.9%
  • 2015-09-01: Largest Expected Move — 10.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.55$41.85$44.29$41.85$44.19
Max Pain$44.10$44.00$45.00$45.00$44.00
ATM IV28.2%23.7%34.8%34.8%29.7%
Expected Move7.5%6.3%10.4%10.4%7.1%
HV 20d34.9%24.4%39.6%34.3%24.4%
HV 60d27.0%25.4%27.7%25.4%27.7%
IV Rank63.5%42.8%93.9%93.9%70.3%
IV Percentile92.0%74.6%99.6%99.6%96.8%
Term Structure0.6%-0.9%6.0%-0.7%-0.7%
VWIV26.2%21.3%36.7%36.7%24.5%
Skew 25d6.7%5.7%7.7%7.5%7.1%
Skew 10d14.3%11.0%17.5%15.1%14.8%
Call IV 25d25.2%20.3%31.5%31.5%26.6%
Put IV 25d31.9%26.0%39.0%39.0%33.6%
Bid-Ask Spread %7.825.5713.4511.517.85
Gamma HHI0.080.070.090.070.08
Net GEX30.4M8.5M48.3M8.5M48.3M
Net DEX-66.1M-350.5M469.3M469.3M-338.1M
Net VEX-14.1M-15.0M-13.5M-14.0M-14.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.970.541.680.540.75
Total Volume88,826.57155,204142,573142,57381,567
Total OI2,130,503.8572,018,9292,229,3332,018,9292,156,421

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-09-01$41.85$45.0034.8%10.4%34.3%93.9%36.7%7.5%-0.7%8.5M469.3M-14.0M0.5411.51N/AN/A92,52650,0471,150,046868,883
2015-09-02$43.14$45.0029.7%8.6%36.7%70.8%30.3%6.9%-0.4%20.7M54.4M-14.6M0.946.16N/AN/A51,90048,7441,176,156887,079
2015-09-03$43.59$44.0028.0%7.8%36.6%63.0%27.6%6.6%-0.5%27.4M-126.3M-15.0M0.877.67N/AN/A42,34336,8541,198,733898,957
2015-09-04$42.70$44.0032.0%8.8%37.1%81.3%32.0%7.7%-0.3%19.0M208.1M-14.6M1.307.36N/AN/A57,10574,2591,200,313905,004
2015-09-08$43.89$44.0027.3%7.7%38.4%59.4%28.3%6.5%-0.5%30.1M-220.4M-15.0M1.018.14N/AN/A40,49040,9751,192,201919,874
2015-09-09$42.97$44.0028.0%8.0%38.6%62.3%27.2%6.8%-0.0%15.9M179.0M-14.4M0.567.33N/AN/A70,33839,6861,202,646943,866
2015-09-10$43.25$44.0027.1%7.7%38.5%58.3%26.8%6.8%-0.4%23.4M64.1M-14.2M0.765.79N/AN/A41,39931,6251,232,991950,753
2015-09-11$43.38$44.0025.8%7.5%38.5%52.1%24.3%6.2%0.6%13.3M42.0M-14.4M1.615.89N/AN/A28,74646,3041,240,730958,817
2015-09-14$43.02$44.0026.7%7.6%38.4%56.5%26.3%6.5%3.6%18.4M207.4M-13.9M1.286.41N/AN/A26,92034,4581,218,207931,168
2015-09-15$43.98$44.0024.4%7.0%39.4%46.1%24.4%6.2%3.7%34.4M-211.4M-14.4M0.759.15N/AN/A31,62723,5771,224,603940,949
2015-09-16$44.29$44.0023.7%6.8%39.6%42.8%25.4%6.3%3.3%42.2M-350.5M-14.2M1.035.57N/AN/A35,57136,7401,233,181947,903
2015-09-17$44.22$44.0023.8%6.6%39.4%43.1%23.2%5.7%3.7%44.6M-308.6M-14.0M0.7413.45N/AN/A61,00545,2441,239,777960,778
2015-09-18$43.51$44.0024.6%6.4%39.3%46.8%23.0%6.2%6.0%25.9M69.8M-13.5M1.398.14N/AN/A51,68471,6131,261,345967,988
2015-09-21$44.17$44.0026.3%6.3%34.8%54.4%21.3%6.4%-0.5%40.2M-287.6M-13.5M0.578.36N/AN/A64,18036,6431,140,904900,186
2015-09-22$43.45$44.0029.0%7.0%33.9%67.1%24.4%6.5%-0.8%29.7M-44.0M-13.7M1.026.36N/AN/A29,77730,5101,172,892911,225
2015-09-23$43.97$44.0028.9%6.6%32.1%66.7%23.4%6.8%-0.7%42.4M-236.9M-13.9M0.717.41N/AN/A34,93824,6751,183,852921,894
2015-09-24$43.95$44.0029.5%6.8%29.1%69.2%24.2%6.6%-0.9%43.7M-244.1M-13.9M1.688.00N/AN/A31,27052,5591,200,017924,088
2015-09-25$43.99$44.0029.2%6.9%27.9%68.2%23.8%6.7%-0.9%46.8M-260.7M-13.7M0.957.85N/AN/A54,28651,7291,199,548936,721
2015-09-28$43.42$44.0032.1%8.0%28.2%81.4%27.1%7.5%-0.9%30.2M-10.2M-13.8M1.136.75N/AN/A39,31144,3481,190,862920,762
2015-09-29$43.52$44.0032.0%8.0%28.1%81.0%27.0%7.4%-0.9%33.3M-44.3M-13.7M0.709.16N/AN/A45,72132,0641,197,172931,089
2015-09-30$44.19$44.0029.7%7.1%24.4%70.3%24.5%7.1%-0.7%48.3M-338.1M-14.1M0.757.85N/AN/A46,72234,8451,220,573935,848