MSFT Options History — February 2020

In February 2020, MSFT traded between $158.65 and $188.04. ATM implied volatility averaged 28.7%, placing in the 73.0% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded above realized volatility by 3.0% (HV 20d: 25.8%). Max pain ranged from $155.00 to $175.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 0.40.

Notable Days

  • 2020-02-11: Highest Volume — 942,666 contracts
  • 2020-02-28: Largest IV spike — 25.8% change
  • 2020-02-24: Highest IV Rank — 100.0%
  • 2020-02-28: Largest Expected Move — 16.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$178.59$158.65$188.04$174.08$158.65
Max Pain$165.13$155.00$175.00$160.00$172.50
ATM IV28.7%20.9%52.7%20.9%52.7%
Expected Move8.3%5.8%16.2%5.8%16.2%
HV 20d25.8%19.6%37.1%19.6%35.3%
HV 60d17.5%14.0%23.9%14.0%23.9%
IV Rank73.0%40.1%100.0%40.1%100.0%
IV Percentile85.8%42.5%100.0%42.5%100.0%
Term Structure-0.8%-3.1%0.3%-0.1%-3.1%
VWIV29.6%21.7%57.4%21.7%57.4%
Skew 25d3.3%-1.1%14.7%3.5%14.7%
Skew 10d6.1%-2.3%24.5%7.9%24.5%
Call IV 25d28.0%20.0%46.7%20.0%46.7%
Put IV 25d31.3%22.7%61.4%23.5%61.4%
Bid-Ask Spread %4.542.0312.782.039.65
Gamma HHI0.120.050.220.170.05
Net GEX341.9M9.0M723.3M362.6M9.0M
Net DEX-8.75B-13.74B1.10B-9.14B953.5M
Net VEX-44.7M-55.0M-32.3M-35.0M-55.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.400.180.670.270.67
Total Volume569,515.474254,584942,666254,584713,552
Total OI2,352,473.7371,691,8052,749,8701,691,8052,749,870

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-02-03$174.08$160.0020.9%5.8%19.6%40.1%21.7%3.5%-0.1%362.6M-9.14B-35.0M0.272.03N/AN/A200,19154,393928,151763,654
2020-02-04$179.69$160.0021.1%6.0%21.6%41.5%21.7%1.7%0.0%325.5M-11.39B-32.3M0.303.74N/AN/A394,179116,888936,744780,511
2020-02-05$179.75$165.0024.0%6.7%21.4%58.7%24.5%0.1%-0.5%312.2M-11.09B-34.8M0.292.66N/AN/A491,762140,5311,009,530811,903
2020-02-06$182.92$155.0024.1%6.7%21.5%59.5%24.4%-0.3%-0.4%415.5M-12.70B-36.4M0.293.28N/AN/A351,367103,4551,141,428841,827
2020-02-07$183.94$155.0024.8%6.9%21.5%63.7%24.7%0.2%-0.4%405.2M-12.93B-37.9M0.353.45N/AN/A412,411145,2831,198,245874,369
2020-02-10$188.04$155.0026.4%7.4%22.0%73.0%26.4%-0.1%-0.5%396.3M-13.65B-39.3M0.282.36N/AN/A450,468126,9061,200,050850,174
2020-02-11$184.50$155.0029.3%8.1%23.9%91.0%29.3%-1.1%-1.2%341.4M-12.00B-42.4M0.333.24N/AN/A710,078232,5881,280,361901,274
2020-02-12$184.03$160.0026.9%7.4%23.9%76.2%27.4%-0.3%-1.0%405.5M-11.94B-44.3M0.312.43N/AN/A602,442185,3241,468,287956,790
2020-02-13$183.75$160.0025.9%7.3%24.0%70.2%26.2%0.9%-0.7%455.7M-12.07B-46.3M0.422.73N/AN/A439,739185,6721,625,880987,660
2020-02-14$184.72$160.0023.9%6.8%23.7%58.2%24.7%0.7%-0.0%723.3M-12.63B-46.4M0.433.35N/AN/A304,652131,5231,671,5211,021,819
2020-02-18$187.42$160.0023.7%6.8%24.0%57.2%24.3%0.8%-0.3%597.0M-13.74B-45.2M0.183.33N/AN/A566,360100,4691,578,176965,456
2020-02-19$187.08$170.0022.5%6.4%24.0%49.6%22.8%1.2%-0.2%649.6M-11.18B-45.8M0.422.09N/AN/A265,237110,8721,493,404990,088
2020-02-20$184.38$175.0025.0%7.2%24.8%64.7%25.7%2.5%-0.3%445.9M-9.37B-48.8M0.402.73N/AN/A338,250134,7201,535,6271,034,408
2020-02-21$178.32$175.0028.7%8.2%28.3%87.2%29.3%5.0%0.3%211.0M-5.82B-50.9M0.608.33N/AN/A416,374250,9971,581,3301,080,845
2020-02-24$172.36$175.0033.7%10.0%31.0%100.0%34.8%6.3%-1.2%152.9M-3.58B-51.1M0.493.57N/AN/A399,430194,7851,491,938983,557
2020-02-25$168.94$175.0035.7%10.6%31.5%100.0%38.3%7.2%-1.6%120.4M-2.26B-52.4M0.506.14N/AN/A362,962181,5521,547,6241,020,229
2020-02-26$170.17$175.0034.8%10.4%30.9%96.0%35.5%7.7%-1.5%156.1M-2.81B-54.0M0.3912.78N/AN/A314,998122,6231,611,8261,071,693
2020-02-27$160.43$175.0041.9%12.8%37.1%100.0%43.1%11.2%-2.7%11.7M1.10B-51.3M0.648.44N/AN/A347,143220,6181,611,8831,098,869
2020-02-28$158.65$172.5052.7%16.2%35.3%100.0%57.4%14.7%-3.1%9.0M953.5M-55.0M0.679.65N/AN/A428,004285,5481,638,7071,111,163