MSFT Options History — September 2017

In September 2017, MSFT traded between $73.21 and $75.40. ATM implied volatility averaged 16.4%, placing in the 32.3% IV rank vs the trailing year. The 30-day expected move averaged 4.3%. IV traded above realized volatility by 3.1% (HV 20d: 13.3%). Max pain ranged from $70.00 to $72.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 0.86.

Notable Days

  • 2017-09-15: Highest Volume — 165,314 contracts
  • 2017-09-25: Largest IV spike — 26.0% change
  • 2017-09-28: Highest IV Rank — 58.7%
  • 2017-09-05: Largest Expected Move — 5.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$74.35$73.21$75.40$74.01$74.50
Max Pain$71.00$70.00$72.50$72.50$72.50
ATM IV16.4%13.6%20.7%14.5%20.2%
Expected Move4.3%3.8%5.1%3.8%4.0%
HV 20d13.3%11.2%15.2%14.5%12.5%
HV 60d14.6%13.5%16.1%16.1%13.5%
IV Rank32.3%15.5%58.7%20.6%55.7%
IV Percentile38.7%9.9%71.0%20.6%69.0%
Term Structure1.3%-1.2%5.6%0.5%-1.2%
VWIV15.6%14.0%18.0%14.0%14.4%
Skew 25d2.3%1.7%2.6%2.3%2.4%
Skew 10d4.6%3.3%5.5%4.9%4.4%
Call IV 25d15.5%12.9%20.3%13.5%19.4%
Put IV 25d17.8%14.6%22.7%15.7%21.8%
Bid-Ask Spread %2.782.034.383.812.40
Gamma HHI0.160.100.290.170.11
Net GEX160.7M95.6M306.6M158.4M161.4M
Net DEX-2.41B-3.18B-1.57B-2.54B-2.34B
Net VEX-17.2M-17.7M-16.5M-17.6M-17.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.860.511.450.660.67
Total Volume87,616.753,751165,314109,09274,927
Total OI1,833,073.41,705,3691,903,0061,831,6031,903,006

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2017-09-01$74.01$72.5014.5%3.8%14.5%20.6%14.0%2.3%0.5%158.4M-2.54B-17.6M0.663.81N/AN/A65,53543,557928,489903,114
2017-09-05$73.72$70.0016.1%5.1%14.6%30.2%18.0%2.6%0.4%147.6M-2.31B-17.7M0.942.92N/AN/A37,53235,110909,798890,301
2017-09-06$73.40$70.0015.2%4.8%14.7%25.0%15.7%2.6%0.5%140.5M-2.12B-17.7M0.522.16N/AN/A47,14224,621916,398894,699
2017-09-07$74.35$70.0015.0%4.4%15.2%24.1%16.7%2.5%0.3%193.1M-2.65B-17.6M0.582.83N/AN/A69,33939,988934,445899,902
2017-09-08$74.03$70.0015.7%4.5%14.5%28.1%18.0%2.6%0.2%139.0M-2.39B-17.6M1.452.24N/AN/A31,53645,837929,257916,885
2017-09-11$74.70$70.0015.5%4.5%14.0%27.1%15.6%2.6%0.1%196.2M-2.76B-17.2M0.992.11N/AN/A39,97639,403908,370907,351
2017-09-12$74.61$70.0015.3%4.4%13.3%25.5%16.3%2.5%0.2%202.2M-2.65B-17.2M1.062.29N/AN/A29,71531,485921,234922,056
2017-09-13$75.21$70.0014.6%4.3%13.5%21.3%15.8%2.1%0.4%244.3M-3.04B-16.9M0.692.07N/AN/A39,43027,382929,882927,904
2017-09-14$74.76$70.0014.6%4.3%13.7%21.2%15.8%2.2%0.5%248.8M-2.76B-16.8M0.782.04N/AN/A36,84028,623934,593932,822
2017-09-15$75.32$70.0013.6%4.1%12.8%15.5%14.4%1.7%1.0%306.6M-3.18B-16.6M0.573.13N/AN/A104,98260,332943,099938,487
2017-09-18$75.24$70.0014.0%4.0%12.8%17.9%14.2%2.2%4.8%142.2M-2.69B-16.5M0.842.65N/AN/A58,02048,890847,985857,384
2017-09-19$75.40$70.0014.3%4.1%12.0%19.8%14.4%1.9%4.3%144.6M-2.74B-17.0M0.884.07N/AN/A30,90627,174867,579879,028
2017-09-20$74.97$70.0014.9%4.3%11.2%23.4%15.0%2.2%5.3%130.7M-2.52B-17.2M0.693.37N/AN/A78,68053,995873,155885,991
2017-09-21$74.22$72.5015.8%4.3%11.7%28.9%15.5%1.8%5.1%122.8M-2.14B-17.5M0.512.05N/AN/A73,67337,488919,483914,414
2017-09-22$74.41$72.5016.1%4.0%11.6%30.7%14.7%1.8%5.6%115.7M-2.21B-17.3M0.964.38N/AN/A35,70834,212934,635922,374
2017-09-25$73.21$72.5020.3%4.7%13.1%56.1%16.5%2.1%-0.8%97.1M-1.57B-17.3M1.283.78N/AN/A56,71472,391924,962918,639
2017-09-26$73.27$72.5020.6%4.4%13.0%58.1%15.9%2.6%-0.7%95.6M-1.62B-17.1M1.072.75N/AN/A31,37733,560935,317920,340
2017-09-27$73.98$72.5020.7%4.3%13.4%58.6%15.2%2.3%-0.8%120.8M-2.01B-17.0M0.842.52N/AN/A39,40733,096944,387933,558
2017-09-28$73.77$72.5020.7%4.2%12.9%58.7%15.2%2.1%-0.6%107.1M-1.89B-17.1M1.152.03N/AN/A24,97028,781951,641938,504
2017-09-29$74.50$72.5020.2%4.0%12.5%55.7%14.4%2.4%-1.2%161.4M-2.34B-17.0M0.672.40N/AN/A44,87530,052958,090944,916