MSFT Options History — September 2019

In September 2019, MSFT traded between $135.58 and $140.92. ATM implied volatility averaged 22.9%, placing in the 27.1% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded above realized volatility by 1.6% (HV 20d: 21.3%). Max pain ranged from $130.00 to $135.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.55.

Notable Days

  • 2019-09-19: Highest Volume — 502,858 contracts
  • 2019-09-24: Largest IV spike — 11.6% change
  • 2019-09-27: Highest IV Rank — 46.4%
  • 2019-09-03: Largest Expected Move — 7.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$138.07$135.58$140.92$136.26$138.86
Max Pain$132.50$130.00$135.00$135.00$135.00
ATM IV22.9%19.7%28.1%25.0%26.4%
Expected Move6.2%5.6%7.3%7.3%6.1%
HV 20d21.3%16.9%25.6%25.3%18.6%
HV 60d20.7%20.2%21.1%20.4%20.8%
IV Rank27.1%15.2%46.4%34.8%40.0%
IV Percentile45.3%17.9%79.0%66.3%69.8%
Term Structure1.1%-0.8%5.1%-0.0%-0.6%
VWIV21.5%19.4%25.0%25.0%21.2%
Skew 25d4.9%4.0%6.3%6.3%5.9%
Skew 10d9.8%7.5%12.7%12.7%11.4%
Call IV 25d20.7%17.5%25.4%22.1%23.7%
Put IV 25d25.6%21.4%31.3%28.4%29.7%
Bid-Ask Spread %3.221.714.602.993.86
Gamma HHI0.120.090.170.120.13
Net GEX214.1M85.9M453.2M128.0M169.2M
Net DEX-4.44B-6.96B-3.21B-3.66B-4.10B
Net VEX-33.7M-35.7M-32.2M-35.7M-33.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.550.280.720.580.49
Total Volume201,988.25103,887502,858108,790132,207
Total OI2,119,961.251,907,2162,336,2122,025,7251,986,416

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-09-03$136.26$135.0025.0%7.3%25.3%34.8%25.0%6.3%-0.0%128.0M-3.66B-35.7M0.582.99N/AN/A68,66040,130991,9321,033,793
2019-09-04$137.49$135.0023.1%6.6%25.1%27.9%22.8%5.5%0.2%186.9M-4.34B-35.3M0.521.71N/AN/A68,46735,4201,012,2501,049,061
2019-09-05$139.83$130.0020.6%6.1%25.6%18.6%22.5%5.0%0.1%268.3M-5.69B-34.3M0.721.85N/AN/A131,65794,3791,018,8261,061,233
2019-09-06$139.36$130.0020.2%5.9%24.1%17.1%21.0%4.8%0.4%221.5M-5.39B-33.9M0.602.78N/AN/A116,88969,8671,028,9771,078,183
2019-09-09$137.25$130.0022.0%6.6%24.7%23.8%22.2%4.9%1.1%141.9M-4.07B-33.7M0.603.36N/AN/A116,36270,2371,008,8251,052,373
2019-09-10$135.58$130.0022.7%6.7%24.2%26.4%23.1%4.7%0.5%85.9M-3.21B-34.1M0.552.62N/AN/A150,40783,0111,048,3291,081,743
2019-09-11$135.69$130.0021.7%6.3%23.1%22.4%21.9%4.3%0.4%125.7M-3.41B-33.8M0.483.08N/AN/A132,05564,0261,078,6331,100,498
2019-09-12$137.97$130.0021.3%6.0%21.0%21.2%21.3%4.2%-0.8%284.5M-5.10B-34.1M0.284.60N/AN/A226,05862,6751,114,3871,120,063
2019-09-13$137.19$130.0021.3%6.2%21.2%21.2%21.1%4.0%0.5%182.8M-4.42B-33.6M0.402.48N/AN/A135,16554,5921,138,6671,135,229
2019-09-16$136.33$130.0022.3%6.4%20.7%24.9%21.4%4.4%3.8%168.5M-3.73B-33.1M0.623.02N/AN/A83,11951,3221,104,7761,086,330
2019-09-17$137.47$130.0021.6%6.2%19.8%22.2%20.4%4.3%3.8%209.4M-4.36B-33.0M0.452.83N/AN/A72,04732,3641,104,4191,106,613
2019-09-18$138.58$130.0019.7%5.7%20.0%15.2%20.9%4.4%5.1%296.8M-5.04B-32.6M0.583.71N/AN/A128,97674,7851,108,3401,114,156
2019-09-19$140.92$135.0020.2%5.6%20.7%16.9%19.4%4.0%4.3%453.2M-6.96B-32.2M0.463.99N/AN/A343,917158,9411,130,4661,137,567
2019-09-20$139.21$135.0021.3%5.6%21.1%21.2%19.9%4.3%4.8%244.6M-4.86B-32.3M0.543.85N/AN/A189,966103,1181,153,2071,183,005
2019-09-23$139.49$135.0023.6%5.7%16.9%29.6%19.5%5.0%0.4%225.2M-4.48B-32.9M0.632.15N/AN/A91,68457,384930,961976,255
2019-09-24$137.25$135.0026.3%6.6%17.8%39.9%22.6%5.8%0.1%153.8M-3.31B-33.8M0.573.99N/AN/A157,99590,663961,1191,000,799
2019-09-25$139.60$135.0025.5%5.8%18.6%36.8%20.6%5.2%-0.2%266.7M-4.67B-34.0M0.603.14N/AN/A119,75872,169989,8911,027,215
2019-09-26$139.61$135.0025.4%5.8%18.6%36.4%20.3%5.3%-0.4%289.2M-4.71B-34.0M0.694.31N/AN/A94,95665,5281,011,5481,047,009
2019-09-27$137.47$135.0028.1%6.8%18.4%46.4%23.1%5.9%-0.7%180.2M-3.38B-34.6M0.584.15N/AN/A125,46573,3441,021,7881,064,343
2019-09-30$138.86$135.0026.4%6.1%18.6%40.0%21.2%5.9%-0.6%169.2M-4.10B-33.8M0.493.86N/AN/A88,52343,684962,4611,023,955