MSFT Options History — March 2017

In March 2017, MSFT traded between $63.95 and $66.06. ATM implied volatility averaged 14.4%, placing in the 10.2% IV rank vs the trailing year. The 30-day expected move averaged 3.6%. IV traded above realized volatility by 4.0% (HV 20d: 10.4%). Max pain ranged from $62.50 to $64.50. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 15 of 23 days. Put/call ratio averaged 0.70.

Notable Days

  • 2017-03-17: Highest Volume — 136,875 contracts
  • 2017-03-27: Largest IV spike — 22.5% change
  • 2017-03-30: Highest IV Rank — 37.5%
  • 2017-03-02: Largest Expected Move — 4.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$64.86$63.95$66.06$64.89$66.06
Max Pain$62.76$62.50$64.50$64.50$62.50
ATM IV14.4%11.1%19.7%13.9%19.2%
Expected Move3.6%3.1%4.0%3.9%3.1%
HV 20d10.4%8.4%11.6%10.8%8.5%
HV 60d11.6%10.8%13.1%12.7%11.0%
IV Rank10.2%0.0%37.5%3.1%35.6%
IV Percentile14.8%0.0%58.3%4.0%56.3%
Term Structure1.2%-1.3%6.4%0.3%-1.3%
VWIV12.9%11.4%14.7%14.0%11.4%
Skew 25d2.0%1.5%2.8%1.5%2.5%
Skew 10d4.3%2.7%10.2%2.7%5.4%
Call IV 25d13.6%10.4%18.8%13.5%18.5%
Put IV 25d15.6%12.1%21.3%15.0%21.0%
Bid-Ask Spread %2.511.098.161.622.55
Gamma HHI0.280.170.800.240.20
Net GEX175.1M94.6M779.0M136.0M259.8M
Net DEX-1.57B-2.26B-1.14B-1.67B-2.26B
Net VEX-15.5M-16.0M-14.8M-16.0M-15.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.700.421.390.460.54
Total Volume81,310.47850,082136,87596,29988,577
Total OI1,526,743.4351,422,1431,636,0281,479,8391,636,028

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2017-03-01$64.89$64.5013.9%3.9%10.8%3.1%14.0%1.5%0.3%136.0M-1.67B-16.0M0.461.62N/AN/A66,09530,204797,421682,418
2017-03-02$63.95$64.5014.4%4.0%10.6%5.5%14.1%1.8%0.4%97.1M-1.14B-15.8M0.572.16N/AN/A51,66929,611806,291689,551
2017-03-03$64.14$64.5013.6%3.7%10.3%1.7%12.5%1.7%0.4%137.4M-1.29B-15.7M0.531.72N/AN/A50,47026,767825,914696,167
2017-03-06$64.43$62.5013.4%3.9%10.1%0.6%14.1%1.9%0.1%129.5M-1.40B-15.6M0.631.09N/AN/A30,71119,371813,133684,982
2017-03-07$64.24$62.5013.5%3.9%10.2%1.0%13.8%1.8%0.1%131.1M-1.34B-15.5M0.721.33N/AN/A35,34925,553818,816689,627
2017-03-08$64.90$62.5013.1%3.9%10.5%0.0%13.6%2.1%0.1%163.8M-1.71B-15.7M0.571.28N/AN/A56,92532,690825,115699,891
2017-03-09$64.74$62.5013.8%3.9%10.6%3.5%14.7%2.0%0.3%155.9M-1.61B-15.6M0.831.31N/AN/A38,95832,448833,610709,320
2017-03-10$64.88$62.5013.0%3.6%10.1%0.0%12.9%2.0%0.3%197.2M-1.68B-15.5M0.641.72N/AN/A45,10928,930837,093716,790
2017-03-13$64.80$62.5012.7%3.6%10.1%0.0%13.4%2.0%-0.2%152.8M-1.56B-15.4M0.771.67N/AN/A28,95422,203824,063706,288
2017-03-14$64.39$62.5013.0%3.7%9.8%1.1%13.1%2.0%0.1%134.1M-1.29B-15.5M0.662.14N/AN/A37,11724,333829,560711,681
2017-03-15$64.83$62.5012.5%3.6%10.0%0.0%12.7%1.6%-0.1%205.7M-1.60B-15.4M0.422.10N/AN/A40,25817,069839,481715,527
2017-03-16$64.57$62.5012.1%3.4%10.1%0.0%12.1%1.9%-0.6%165.3M-1.38B-15.2M0.582.21N/AN/A45,57726,462845,040719,654
2017-03-17$64.99$62.5011.5%3.3%10.4%0.0%11.8%1.7%0.1%779.0M-1.75B-14.8M0.561.89N/AN/A87,74849,127858,406726,518
2017-03-20$64.92$62.5011.1%3.2%10.4%0.0%11.4%1.7%6.4%122.6M-1.49B-15.0M1.393.13N/AN/A38,29653,321777,002645,141
2017-03-21$64.30$62.5012.6%3.6%11.0%6.7%12.5%1.9%6.0%94.6M-1.17B-15.3M0.712.61N/AN/A62,95744,541787,696658,687
2017-03-22$65.06$62.5012.7%3.6%11.6%7.2%12.4%1.9%6.2%123.1M-1.54B-15.4M0.582.51N/AN/A57,59233,617799,458674,385
2017-03-23$64.94$62.5013.9%3.7%11.6%12.5%12.9%2.1%6.1%117.1M-1.46B-15.3M1.072.30N/AN/A30,29932,475812,819683,101
2017-03-24$65.14$62.5015.3%3.7%11.6%18.5%13.1%2.1%6.4%142.6M-1.60B-15.4M1.258.16N/AN/A38,14547,854821,290690,374
2017-03-27$65.19$62.5018.8%3.8%11.5%33.5%13.3%2.5%-0.8%113.7M-1.56B-15.3M0.447.34N/AN/A68,22029,965812,121685,911
2017-03-28$65.38$62.5018.5%3.4%11.3%32.4%12.3%2.6%-0.8%141.5M-1.75B-15.7M0.872.45N/AN/A44,32938,784852,357693,817
2017-03-29$65.46$62.5019.0%3.1%10.1%34.8%11.7%2.6%-0.9%154.4M-1.81B-15.7M0.762.43N/AN/A41,33331,281866,490710,093
2017-03-30$65.64$62.5019.7%3.3%8.4%37.5%12.0%2.8%-1.1%173.0M-1.97B-15.9M0.622.09N/AN/A67,21241,635882,545723,427
2017-03-31$66.06$62.5019.2%3.1%8.5%35.6%11.4%2.5%-1.3%259.8M-2.26B-15.8M0.542.55N/AN/A57,62830,949896,932739,096