MSFT Options History — March 2019

In March 2019, MSFT traded between $110.33 and $119.83. ATM implied volatility averaged 19.1%, placing in the 14.4% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded above realized volatility by 4.6% (HV 20d: 14.4%). Max pain ranged from $105.00 to $115.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.68.

Notable Days

  • 2019-03-15: Highest Volume — 251,449 contracts
  • 2019-03-22: Largest IV spike — 13.9% change
  • 2019-03-26: Highest IV Rank — 28.4%
  • 2019-03-26: Largest Expected Move — 6.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$115.15$110.33$119.83$112.67$117.69
Max Pain$109.19$105.00$115.00$105.00$115.00
ATM IV19.1%16.1%22.9%17.9%22.1%
Expected Move6.0%4.7%6.9%4.7%6.2%
HV 20d14.4%12.7%16.2%16.2%15.5%
HV 60d24.9%20.6%28.0%28.0%20.6%
IV Rank14.4%3.4%28.4%10.2%25.5%
IV Percentile26.9%5.2%54.4%17.5%49.6%
Term Structure1.3%-0.6%3.5%0.9%1.9%
VWIV21.2%17.1%24.7%17.2%22.1%
Skew 25d3.5%2.9%4.2%2.9%3.7%
Skew 10d7.7%6.0%9.3%7.0%8.9%
Call IV 25d17.6%14.8%21.7%16.6%19.8%
Put IV 25d21.0%17.7%25.9%19.5%23.5%
Bid-Ask Spread %4.671.398.653.455.20
Gamma HHI0.160.110.330.140.12
Net GEX182.4M115.4M302.7M206.3M190.9M
Net DEX-3.43B-4.80B-2.01B-3.28B-3.78B
Net VEX-25.4M-28.0M-23.3M-23.3M-27.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.450.900.660.68
Total Volume138,684.95275,379251,449137,733101,586
Total OI1,508,9481,379,9521,653,5881,422,4321,653,588

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-03-01$112.67$105.0017.9%4.7%16.2%10.2%17.2%2.9%0.9%206.3M-3.28B-23.3M0.663.45N/AN/A82,90054,833752,060670,372
2019-03-04$112.09$105.0019.7%5.5%15.4%16.6%19.2%3.5%-0.3%168.7M-2.75B-23.5M0.731.61N/AN/A98,07971,753729,158651,077
2019-03-05$111.85$105.0018.3%4.8%13.5%11.7%17.1%3.2%-0.1%172.4M-2.74B-23.7M0.611.72N/AN/A46,83428,545748,002674,621
2019-03-06$111.74$105.0018.6%5.1%12.7%12.6%18.4%3.3%0.1%172.3M-2.68B-24.2M0.691.39N/AN/A54,13737,404763,081689,165
2019-03-07$110.33$106.0020.0%5.9%13.2%17.8%19.9%3.8%0.1%122.5M-2.01B-24.7M0.736.05N/AN/A102,11775,046775,184701,203
2019-03-08$110.38$107.0020.0%5.6%12.7%17.8%19.7%4.0%-0.1%115.4M-2.01B-25.2M0.901.62N/AN/A61,81655,652786,059728,907
2019-03-11$112.74$110.0017.5%5.9%14.2%8.5%22.3%3.5%-0.4%197.6M-3.05B-24.1M0.632.89N/AN/A77,14448,480759,583714,431
2019-03-12$113.58$110.0017.3%5.8%14.3%8.0%19.8%3.3%-0.6%229.7M-3.43B-23.9M0.451.85N/AN/A95,98242,843783,213734,335
2019-03-13$114.56$110.0016.4%5.8%14.0%4.4%20.9%3.1%0.1%276.5M-3.85B-24.5M0.576.02N/AN/A68,48938,963793,112747,216
2019-03-14$114.91$110.0016.3%5.9%14.0%4.1%21.4%3.0%0.3%302.7M-3.92B-24.5M0.872.80N/AN/A52,30945,467795,873761,211
2019-03-15$116.56$110.0016.1%5.9%14.5%3.4%20.3%3.0%1.0%207.5M-4.75B-24.2M0.535.69N/AN/A163,90087,549802,195778,539
2019-03-18$117.53$110.0016.2%5.6%14.4%3.7%20.8%3.2%3.5%175.5M-3.95B-24.7M0.655.05N/AN/A76,47950,067718,013661,939
2019-03-19$117.16$110.0017.2%6.2%14.6%7.4%21.5%3.3%3.5%179.3M-3.77B-25.5M0.697.19N/AN/A89,76561,600746,513688,381
2019-03-20$117.99$110.0017.7%5.8%13.5%9.4%21.6%3.3%3.1%185.8M-4.06B-25.7M0.788.65N/AN/A78,38661,431760,622712,549
2019-03-21$119.83$110.0018.7%6.1%13.1%13.0%22.6%3.1%2.9%199.9M-4.80B-25.5M0.725.16N/AN/A111,43479,756775,102727,792
2019-03-22$117.30$110.0021.3%6.9%15.6%22.6%23.8%3.4%2.5%125.9M-3.46B-27.7M0.818.03N/AN/A116,16194,419791,470759,543
2019-03-25$117.91$110.0022.6%6.6%15.4%27.1%24.5%4.2%2.1%141.3M-3.62B-27.7M0.586.30N/AN/A93,83454,640777,194736,548
2019-03-26$117.23$110.0022.9%6.9%15.6%28.4%24.7%4.0%1.6%150.5M-3.46B-27.8M0.725.60N/AN/A79,87257,648817,631763,590
2019-03-27$116.98$110.0021.9%6.8%15.5%24.9%23.3%4.0%2.2%144.1M-3.29B-28.0M0.686.26N/AN/A73,34349,895833,972785,384
2019-03-28$117.12$115.0021.9%6.8%15.5%24.9%23.3%3.9%2.5%165.4M-3.39B-27.9M0.665.44N/AN/A55,33036,496846,700792,780
2019-03-29$117.69$115.0022.1%6.2%15.5%25.5%22.1%3.7%1.9%190.9M-3.78B-27.5M0.685.20N/AN/A60,63440,952856,373797,215