MSFT Options History — December 2019

In December 2019, MSFT traded between $148.83 and $158.78. ATM implied volatility averaged 16.3%, placing in the 7.5% IV rank vs the trailing year. The 30-day expected move averaged 4.6%. IV traded above realized volatility by 6.2% (HV 20d: 10.1%). Max pain ranged from $135.00 to $145.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.63.

Notable Days

  • 2019-12-13: Highest Volume — 237,984 contracts
  • 2019-12-30: Largest IV spike — 16.9% change
  • 2019-12-31: Highest IV Rank — 25.0%
  • 2019-12-03: Largest Expected Move — 5.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$154.11$148.83$158.78$150.00$157.36
Max Pain$139.52$135.00$145.00$145.00$145.00
ATM IV16.3%14.3%20.9%17.4%20.9%
Expected Move4.6%4.1%5.5%5.2%4.4%
HV 20d10.1%9.3%10.6%9.4%9.3%
HV 60d14.4%12.4%15.9%15.9%12.4%
IV Rank7.5%0.1%25.0%11.1%25.0%
IV Percentile11.4%0.4%40.9%16.3%40.9%
Term Structure1.4%-0.6%5.0%0.5%-0.6%
VWIV16.8%14.5%20.3%18.5%16.0%
Skew 25d3.1%2.1%4.0%3.5%3.2%
Skew 10d6.7%5.0%8.5%7.3%7.2%
Call IV 25d15.2%13.0%20.3%16.0%20.3%
Put IV 25d18.3%16.0%23.9%19.5%23.5%
Bid-Ask Spread %2.151.373.131.902.50
Gamma HHI0.200.160.300.170.18
Net GEX350.3M262.0M477.2M290.3M343.5M
Net DEX-7.96B-10.21B-5.37B-6.07B-8.68B
Net VEX-30.4M-32.8M-28.4M-32.0M-29.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.630.420.970.790.75
Total Volume143,200.8143,099237,984179,325104,064
Total OI2,120,385.3811,985,1762,308,0741,985,1762,151,693

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-12-02$150.00$145.0017.4%5.2%9.4%11.1%18.5%3.5%0.5%290.3M-6.07B-32.0M0.791.90N/AN/A100,11379,212935,3321,049,844
2019-12-03$148.83$145.0018.3%5.5%9.9%14.2%20.3%3.9%0.4%262.0M-5.37B-32.8M0.921.79N/AN/A75,02969,034954,6421,078,400
2019-12-04$149.81$145.0017.1%5.0%10.1%9.9%18.3%3.4%0.6%317.1M-6.06B-32.1M0.561.98N/AN/A57,43832,165964,0541,099,840
2019-12-05$150.03$135.0016.7%5.1%9.7%8.7%18.7%3.3%0.6%343.3M-6.19B-31.8M0.782.28N/AN/A49,32638,603973,1401,108,799
2019-12-06$151.78$135.0015.3%4.9%10.2%3.5%17.1%3.0%1.0%339.3M-7.36B-30.8M0.541.93N/AN/A101,41954,840974,3601,118,096
2019-12-09$151.43$135.0016.4%5.1%9.8%7.7%18.8%3.7%1.2%332.8M-6.85B-30.8M0.792.69N/AN/A71,65656,350949,5911,081,305
2019-12-10$150.89$135.0017.2%5.1%10.0%10.4%18.6%4.0%0.6%297.8M-6.31B-31.3M0.971.97N/AN/A39,95438,774955,0071,103,037
2019-12-11$151.56$135.0016.1%5.1%9.8%6.5%18.1%3.8%1.5%328.1M-6.73B-31.1M0.791.56N/AN/A55,09643,333962,6221,118,067
2019-12-12$152.97$135.0016.1%4.5%10.2%6.3%18.0%3.5%-0.2%362.5M-7.56B-30.6M0.681.45N/AN/A107,78273,366971,7021,127,830
2019-12-13$154.51$135.0014.3%4.2%10.5%0.1%16.2%3.1%0.8%365.1M-8.45B-29.9M0.491.93N/AN/A159,78378,201979,0281,148,343
2019-12-16$155.53$140.0014.6%4.3%10.3%1.3%15.3%2.5%0.7%360.2M-8.88B-28.4M0.501.38N/AN/A158,52679,328959,6011,127,152
2019-12-17$154.72$140.0014.8%4.3%10.6%1.9%15.9%2.1%0.5%379.9M-8.47B-29.5M0.591.37N/AN/A100,70759,6581,027,6891,167,142
2019-12-18$154.62$140.0014.3%4.1%10.6%0.1%15.4%2.4%0.6%418.9M-8.47B-30.6M0.542.17N/AN/A69,28237,3661,069,1861,182,497
2019-12-19$155.54$140.0014.7%4.2%10.3%1.5%16.0%2.5%0.6%477.2M-9.23B-30.2M0.532.43N/AN/A112,47859,3351,081,1341,201,073
2019-12-20$157.08$140.0014.5%4.2%10.6%1.0%14.8%2.5%-0.0%370.8M-10.21B-29.6M0.492.59N/AN/A154,36576,2231,096,8331,211,241
2019-12-23$157.42$140.0014.6%4.1%10.6%1.3%14.5%2.8%4.9%337.1M-8.98B-29.3M0.422.87N/AN/A104,37143,820993,5641,086,521
2019-12-24$157.38$140.0014.9%4.1%10.2%2.1%15.3%2.8%5.0%371.8M-9.01B-29.9M0.682.18N/AN/A25,65217,4471,023,3361,105,468
2019-12-26$158.39$140.0016.5%4.3%10.0%8.5%15.4%2.6%5.0%377.5M-9.61B-29.1M0.493.13N/AN/A66,63832,5961,022,7841,110,960
2019-12-27$158.78$140.0017.6%4.3%9.9%12.5%16.6%2.9%4.9%350.9M-9.84B-29.0M0.492.18N/AN/A105,17251,8981,032,1491,120,045
2019-12-30$157.76$145.0020.5%4.5%10.0%23.8%16.2%3.8%-0.3%330.7M-8.78B-29.4M0.492.83N/AN/A111,69655,1211,011,8111,093,175
2019-12-31$157.36$145.0020.9%4.4%9.3%25.0%16.0%3.2%-0.6%343.5M-8.68B-29.4M0.752.50N/AN/A59,61444,4501,034,9721,116,721