MSFT Options History — June 2018

In June 2018, MSFT traded between $98.04 and $102.39. ATM implied volatility averaged 20.3%, placing in the 29.5% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded above realized volatility by 7.6% (HV 20d: 12.6%). Max pain ranged from $95.00 to $96.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.66.

Notable Days

2018-06-04: Highest Volume — 222,593 contracts
2018-06-18: Largest IV spike — 15.8% change
2018-06-27: Highest IV Rank — 56.3%
2018-06-27: Largest Expected Move — 8.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$100.68	$98.04	$102.39	$100.53	$99.11
Max Pain	$95.07	$95.00	$96.00	$95.00	$96.00
ATM IV	20.3%	15.9%	26.4%	16.4%	25.1%
Expected Move	6.6%	4.6%	8.0%	4.6%	7.7%
HV 20d	12.6%	11.1%	15.7%	11.5%	14.4%
HV 60d	25.2%	18.5%	29.2%	29.1%	18.5%
IV Rank	29.5%	10.4%	56.3%	12.9%	50.4%
IV Percentile	56.5%	29.4%	88.1%	34.5%	85.7%
Term Structure	0.9%	-1.2%	5.4%	-0.6%	-1.2%
VWIV	22.9%	16.9%	27.8%	16.9%	27.3%
Skew 25d	2.4%	1.7%	3.5%	2.1%	3.5%
Skew 10d	4.7%	3.3%	7.5%	4.2%	6.5%
Call IV 25d	19.1%	15.0%	24.9%	15.6%	23.6%
Put IV 25d	21.5%	17.0%	28.1%	17.8%	27.1%
Bid-Ask Spread %	3.08	1.91	5.70	5.70	3.08
Gamma HHI	0.12	0.09	0.21	0.21	0.09
Net GEX	207.2M	149.2M	304.7M	304.7M	183.9M
Net DEX	-4.87B	-6.47B	-2.82B	-5.79B	-3.53B
Net VEX	-22.4M	-24.1M	-21.1M	-21.8M	-23.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.66	0.42	1.04	0.66	0.59
Total Volume	131,947.619	90,829	222,593	215,832	106,442
Total OI	1,847,043.095	1,566,162	2,070,713	1,923,906	1,807,424

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2018-06-01	$100.53	$95.00	16.4%	4.6%	11.5%	12.9%	16.9%	2.1%	-0.6%	304.7M	-5.79B	-21.8M	0.66	5.70	N/A	N/A	130,086	85,746	1,032,922	890,984
2018-06-04	$101.70	$95.00	16.6%	6.1%	11.8%	13.4%	21.5%	1.8%	0.1%	240.2M	-6.08B	-21.1M	0.42	3.23	N/A	N/A	156,333	66,260	1,001,694	886,705
2018-06-05	$102.24	$95.00	16.4%	6.2%	11.5%	12.8%	21.1%	2.0%	0.3%	241.5M	-6.38B	-21.4M	0.76	3.14	N/A	N/A	81,862	62,057	1,025,996	913,251
2018-06-06	$102.39	$95.00	15.9%	6.1%	11.1%	10.4%	21.0%	2.0%	0.3%	240.2M	-6.47B	-21.1M	0.65	2.11	N/A	N/A	85,799	55,365	1,042,602	931,586
2018-06-07	$100.92	$95.00	17.0%	6.2%	12.5%	15.3%	21.4%	1.9%	0.1%	231.7M	-5.56B	-22.5M	0.73	4.20	N/A	N/A	78,347	57,024	1,058,416	938,004
2018-06-08	$101.71	$95.00	16.3%	6.2%	12.2%	12.0%	21.5%	1.9%	0.3%	274.0M	-6.13B	-22.1M	1.03	1.97	N/A	N/A	58,615	60,220	1,079,713	947,248
2018-06-11	$101.20	$95.00	17.0%	6.3%	12.3%	15.4%	21.9%	1.8%	4.8%	228.2M	-5.65B	-22.1M	0.69	2.49	N/A	N/A	57,261	39,544	1,053,629	936,606
2018-06-12	$101.28	$95.00	16.5%	6.2%	12.2%	13.1%	21.4%	1.8%	5.2%	241.1M	-5.84B	-21.6M	0.59	3.04	N/A	N/A	57,137	33,692	1,069,800	947,569
2018-06-13	$100.94	$95.00	17.2%	6.3%	11.5%	16.1%	21.9%	1.9%	4.9%	247.3M	-5.61B	-21.8M	0.62	3.87	N/A	N/A	61,520	37,900	1,087,518	957,020
2018-06-14	$101.49	$95.00	17.8%	6.3%	11.5%	19.0%	21.6%	1.8%	5.0%	225.6M	-5.99B	-22.2M	0.70	2.97	N/A	N/A	67,545	47,036	1,090,991	964,579
2018-06-15	$101.01	$95.00	17.9%	6.1%	11.5%	19.2%	21.1%	1.7%	5.4%	161.1M	-5.77B	-21.6M	0.63	1.91	N/A	N/A	80,990	51,015	1,095,096	975,617
2018-06-18	$100.71	$95.00	20.7%	6.3%	11.6%	31.6%	22.0%	2.2%	-0.5%	157.2M	-3.96B	-21.9M	0.69	2.53	N/A	N/A	58,210	40,006	884,904	681,258
2018-06-19	$100.65	$95.00	22.0%	6.5%	11.4%	37.2%	23.7%	2.8%	-0.5%	159.9M	-3.95B	-22.2M	0.65	1.94	N/A	N/A	85,090	55,029	901,449	691,669
2018-06-20	$101.92	$95.00	22.5%	6.5%	12.0%	39.4%	22.3%	2.5%	-0.7%	198.7M	-4.74B	-22.4M	0.51	2.05	N/A	N/A	89,864	45,848	937,378	712,463
2018-06-21	$100.90	$95.00	23.9%	6.9%	12.5%	45.5%	23.7%	3.0%	-0.6%	176.4M	-4.14B	-23.2M	1.04	3.02	N/A	N/A	55,784	58,268	955,373	723,266
2018-06-22	$100.60	$95.00	22.7%	6.5%	12.6%	39.9%	22.9%	2.8%	-0.4%	177.0M	-3.99B	-22.6M	0.62	2.96	N/A	N/A	78,653	48,943	966,746	732,746
2018-06-25	$98.54	$95.00	26.1%	7.7%	14.8%	54.8%	27.1%	3.4%	-0.8%	151.5M	-2.99B	-23.7M	0.43	4.34	N/A	N/A	141,633	61,021	942,421	711,873
2018-06-26	$99.42	$95.00	25.4%	7.5%	15.0%	51.8%	26.4%	3.0%	-1.1%	186.5M	-3.57B	-23.4M	0.76	3.26	N/A	N/A	58,429	44,294	973,091	731,315
2018-06-27	$98.04	$95.00	26.4%	8.0%	15.4%	56.3%	27.8%	3.2%	-0.8%	149.2M	-2.82B	-24.0M	0.71	3.40	N/A	N/A	69,296	48,909	983,767	750,404
2018-06-28	$98.91	$95.50	25.6%	7.7%	15.7%	52.5%	25.9%	3.1%	-0.9%	174.6M	-3.32B	-24.1M	0.43	3.57	N/A	N/A	79,446	34,381	1,008,754	764,058
2018-06-29	$99.11	$96.00	25.1%	7.7%	14.4%	50.4%	27.3%	3.5%	-1.2%	183.9M	-3.53B	-23.3M	0.59	3.08	N/A	N/A	66,998	39,444	1,035,538	771,886