MSFT Options History — January 2019

In January 2019, MSFT traded between $97.94 and $107.42. ATM implied volatility averaged 31.5%, placing in the 59.8% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded below realized volatility by 1.9% (HV 20d: 33.3%). Max pain ranged from $97.50 to $105.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 0 of 21 days. Put/call ratio averaged 0.60.

Notable Days

  • 2019-01-30: Highest Volume — 352,817 contracts
  • 2019-01-31: Largest IV drop — 22.9% change
  • 2019-01-03: Highest IV Rank — 93.4%
  • 2019-01-03: Largest Expected Move — 11.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$104.02$97.94$107.42$100.69$104.15
Max Pain$101.31$97.50$105.00$97.50$105.00
ATM IV31.5%22.7%40.6%37.6%22.7%
Expected Move9.1%6.3%11.0%9.9%6.3%
HV 20d33.3%23.3%38.4%35.1%28.5%
HV 60d34.4%31.6%36.8%35.6%32.4%
IV Rank59.8%27.7%93.4%82.3%27.7%
IV Percentile82.4%48.8%99.6%97.6%48.8%
Term Structure-1.2%-2.3%-0.1%-1.0%-0.1%
VWIV31.8%22.4%38.4%33.8%22.4%
Skew 25d5.8%4.2%7.2%7.2%4.2%
Skew 10d11.5%7.7%14.6%11.2%7.7%
Call IV 25d28.6%21.0%37.4%34.3%21.0%
Put IV 25d34.4%25.1%44.4%41.6%25.1%
Bid-Ask Spread %4.592.937.716.894.24
Gamma HHI0.090.060.270.070.08
Net GEX81.4M-492.6K235.9M36.9M87.7M
Net DEX-1.76B-4.33B-45.8M-1.07B-667.3M
Net VEX-21.4M-22.4M-20.2M-22.1M-21.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.600.400.790.700.54
Total Volume164,366.09542,240352,817133,974326,284
Total OI1,717,251.811,124,7952,078,9921,924,7021,504,033

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-01-02$100.69$97.5037.6%9.9%35.1%82.3%33.8%7.2%-1.0%36.9M-1.07B-22.1M0.706.89N/AN/A78,73755,2371,010,051914,651
2019-01-03$97.94$100.0040.6%11.0%35.1%93.4%38.4%7.1%-1.4%-492.6K-45.8M-21.3M0.744.94N/AN/A94,24470,0411,031,042928,781
2019-01-04$101.76$100.0036.2%10.1%38.4%77.2%35.3%6.7%-0.7%71.2M-1.76B-21.9M0.795.02N/AN/A132,368104,3741,050,567936,500
2019-01-07$102.34$100.0036.2%10.2%38.4%77.4%34.5%6.5%-0.7%52.2M-1.63B-21.6M0.683.93N/AN/A25,14117,099979,347913,232
2019-01-08$102.67$100.0034.4%9.3%37.9%70.4%34.2%6.5%-1.8%63.5M-1.82B-21.4M0.573.87N/AN/A89,33451,322993,831926,524
2019-01-09$104.16$100.0033.1%9.1%38.2%65.9%33.1%6.0%-1.5%101.3M-2.47B-21.5M0.494.16N/AN/A110,41253,6761,025,507943,823
2019-01-10$103.53$100.0032.4%8.9%37.8%63.1%32.3%5.4%-1.4%76.9M-2.13B-21.3M0.583.98N/AN/A72,86941,9801,032,750953,538
2019-01-11$102.63$100.0031.9%8.8%37.7%61.3%32.0%5.5%-1.8%52.3M-1.70B-21.1M0.582.93N/AN/A79,45345,9681,054,264965,037
2019-01-14$102.13$100.0032.6%9.3%37.7%64.1%30.5%6.3%-2.3%41.9M-1.52B-20.2M0.673.70N/AN/A63,38742,5081,022,263935,889
2019-01-15$104.92$100.0029.8%8.5%37.5%53.8%29.9%5.8%-0.9%106.5M-2.93B-20.6M0.434.70N/AN/A114,16548,5311,044,930947,291
2019-01-16$105.42$100.0029.0%8.3%34.7%50.9%29.9%5.8%-0.9%121.2M-3.23B-20.7M0.694.60N/AN/A77,41853,4081,066,534953,444
2019-01-17$105.78$100.0029.3%8.5%33.8%52.0%29.1%5.2%-1.3%108.6M-3.39B-21.2M0.515.82N/AN/A111,90256,7861,086,789975,526
2019-01-18$107.42$100.0028.0%8.2%33.9%47.1%28.0%4.9%-1.8%107.2M-4.33B-21.1M0.585.61N/AN/A133,24877,9441,097,682981,310
2019-01-22$105.40$100.0030.6%9.1%33.8%56.6%32.1%5.9%-1.9%70.5M-1.12B-20.9M0.745.58N/AN/A107,20879,434615,813508,982
2019-01-23$106.49$100.0029.7%8.9%31.8%53.3%30.9%5.5%-1.2%94.1M-1.40B-21.5M0.734.12N/AN/A78,76357,863651,872545,893
2019-01-24$106.13$105.0029.6%9.0%28.4%53.1%31.2%5.8%-1.0%87.7M-1.28B-22.0M0.543.29N/AN/A64,64635,176675,232578,207
2019-01-25$106.99$105.0027.0%8.3%23.3%43.5%28.9%5.5%-1.1%235.9M-1.66B-22.1M0.624.67N/AN/A103,40063,891695,308589,859
2019-01-28$104.99$105.0029.5%9.4%24.5%52.6%32.8%5.5%-1.1%60.3M-943.2M-21.8M0.403.08N/AN/A32,95013,221676,292567,039
2019-01-29$102.88$105.0031.1%10.1%25.8%58.5%34.8%5.5%-1.0%38.1M-387.2M-21.8M0.483.48N/AN/A158,24876,235718,503597,807
2019-01-30$106.06$105.0029.5%9.7%27.7%52.5%33.3%5.3%-0.8%95.8M-1.55B-22.4M0.487.71N/AN/A238,128114,689742,262624,083
2019-01-31$104.15$105.0022.7%6.3%28.5%27.7%22.4%4.2%-0.1%87.7M-667.3M-21.5M0.544.24N/AN/A211,854114,430835,458668,575