MSFT Options History — January 2020

In January 2020, MSFT traded between $158.00 and $173.04. ATM implied volatility averaged 22.4%, placing in the 44.7% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded above realized volatility by 10.0% (HV 20d: 12.4%). Max pain ranged from $145.00 to $160.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.47.

Notable Days

  • 2020-01-30: Highest Volume — 650,064 contracts
  • 2020-01-31: Largest IV spike — 17.1% change
  • 2020-01-27: Highest IV Rank — 70.1%
  • 2020-01-27: Largest Expected Move — 7.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$163.99$158.00$173.04$160.14$170.13
Max Pain$154.88$145.00$160.00$145.00$160.00
ATM IV22.4%19.5%26.1%21.5%22.8%
Expected Move6.2%4.4%7.8%4.4%6.6%
HV 20d12.4%9.9%18.7%9.9%18.7%
HV 60d12.1%10.8%13.3%12.6%13.3%
IV Rank44.7%27.4%70.1%27.4%51.4%
IV Percentile62.5%32.5%91.7%48.0%71.0%
Term Structure-0.6%-1.2%0.7%-0.7%0.3%
VWIV22.1%16.7%27.2%16.9%23.2%
Skew 25d2.7%1.8%3.9%2.8%3.9%
Skew 10d5.5%3.5%8.2%5.7%8.2%
Call IV 25d21.2%18.3%24.3%20.5%21.0%
Put IV 25d24.0%21.0%27.6%23.3%24.9%
Bid-Ask Spread %2.231.624.792.334.79
Gamma HHI0.190.130.370.220.22
Net GEX359.2M210.8M527.6M420.3M419.3M
Net DEX-9.15B-13.28B-5.05B-10.15B-8.00B
Net VEX-31.1M-35.9M-28.5M-28.9M-35.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.470.280.740.480.48
Total Volume238,669.762106,668650,064244,815329,491
Total OI1,982,863.0481,444,8522,404,6902,179,1931,797,147

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-01-02$160.14$145.0021.5%4.4%9.9%27.4%16.9%2.8%-0.7%420.3M-10.15B-28.9M0.482.33N/AN/A165,92578,8901,048,1471,131,046
2020-01-03$159.15$145.0021.7%4.5%10.5%28.2%16.7%3.0%-0.6%317.7M-9.20B-29.6M0.582.88N/AN/A123,85571,4851,043,9521,153,096
2020-01-06$158.60$150.0022.5%5.9%10.7%37.6%21.5%3.0%-0.8%280.5M-8.70B-30.1M0.743.14N/AN/A66,65449,4261,031,6591,135,840
2020-01-07$158.00$150.0022.3%5.9%10.4%36.7%21.5%3.5%-0.7%286.4M-8.76B-29.4M0.532.01N/AN/A69,80436,8641,043,3681,161,295
2020-01-08$160.50$150.0021.7%5.9%11.3%37.1%21.0%3.6%-0.8%363.9M-10.02B-29.7M0.403.13N/AN/A156,67562,8511,063,3421,178,300
2020-01-09$161.72$150.0020.9%5.9%11.2%35.2%20.8%3.2%-0.8%400.0M-10.94B-28.5M0.341.94N/AN/A181,76261,3611,073,7561,192,520
2020-01-10$161.50$155.0021.6%6.0%11.3%40.0%21.4%2.9%-0.7%370.8M-10.73B-29.6M0.481.96N/AN/A146,63370,6501,098,2471,206,515
2020-01-13$162.89$155.0021.7%5.8%11.3%40.5%21.2%2.8%-1.2%372.0M-11.23B-29.3M0.531.62N/AN/A100,10953,0491,097,3731,181,268
2020-01-14$162.33$155.0021.9%6.2%11.2%41.9%21.6%2.7%-0.1%367.1M-10.96B-29.9M0.531.73N/AN/A141,06274,3231,114,8711,191,795
2020-01-15$163.21$155.0021.7%5.9%11.1%44.3%21.0%2.8%-1.1%440.1M-11.33B-30.4M0.531.80N/AN/A96,25050,6381,143,7571,215,478
2020-01-16$165.75$155.0021.8%6.0%11.7%44.6%21.3%2.0%-0.8%527.6M-12.95B-29.8M0.391.67N/AN/A168,81465,4361,152,6621,229,927
2020-01-17$166.75$155.0022.1%6.2%11.6%46.3%22.2%1.8%-0.5%310.2M-13.28B-29.5M0.351.93N/AN/A246,11285,8651,159,5591,245,131
2020-01-21$166.72$155.0022.8%6.5%11.6%50.9%23.2%2.5%-1.0%341.7M-6.98B-30.5M0.281.66N/AN/A192,81854,313812,521632,331
2020-01-22$165.78$157.5023.1%6.6%11.8%52.5%23.3%1.9%-1.0%306.2M-6.57B-32.1M0.281.97N/AN/A132,54437,207842,591649,558
2020-01-23$166.50$160.0023.0%6.7%11.8%52.1%23.6%1.9%-1.1%359.9M-6.97B-32.2M0.661.85N/AN/A87,86558,075873,450663,204
2020-01-24$164.89$160.0024.0%7.0%12.6%57.5%24.4%2.4%-1.2%361.2M-6.11B-33.1M0.522.05N/AN/A149,05077,002881,170688,085
2020-01-27$162.49$160.0026.1%7.8%13.9%70.1%27.2%3.3%-0.4%210.8M-5.05B-33.9M0.531.92N/AN/A138,75274,169839,066680,081
2020-01-28$165.53$160.0024.3%7.4%15.2%59.7%25.7%2.9%-0.5%274.8M-6.39B-34.1M0.471.95N/AN/A114,43854,203878,066712,495
2020-01-29$168.22$160.0023.3%7.1%15.6%53.5%24.7%2.2%-0.2%322.8M-7.59B-34.0M0.521.99N/AN/A287,986149,595904,034730,313
2020-01-30$173.04$160.0019.5%5.6%17.8%31.4%20.7%2.7%0.7%490.6M-10.30B-32.4M0.362.55N/AN/A478,191171,873978,597784,511
2020-01-31$170.13$160.0022.8%6.6%18.7%51.4%23.2%3.9%0.3%419.3M-8.00B-35.9M0.484.79N/AN/A222,371107,120982,742814,405