MSFT Options History — April 2020

In April 2020, MSFT traded between $151.52 and $178.25. ATM implied volatility averaged 42.8%, placing in the 40.3% IV rank vs the trailing year. The 30-day expected move averaged 12.3%. IV traded below realized volatility by 14.6% (HV 20d: 57.5%). Max pain ranged from $155.00 to $170.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.52.

Notable Days

  • 2020-04-30: Highest Volume — 572,919 contracts
  • 2020-04-06: Largest IV drop — 19.0% change
  • 2020-04-01: Highest IV Rank — 59.6%
  • 2020-04-01: Largest Expected Move — 16.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$168.82$151.52$178.25$151.52$178.25
Max Pain$160.24$155.00$170.00$160.00$170.00
ATM IV42.8%32.7%56.5%56.5%32.7%
Expected Move12.3%9.5%16.4%16.4%9.5%
HV 20d57.5%38.9%73.6%71.9%38.9%
HV 60d51.8%49.2%53.1%49.2%52.7%
IV Rank40.3%25.9%59.6%59.6%25.9%
IV Percentile88.7%81.3%96.0%96.0%81.3%
Term Structure-1.2%-2.5%0.5%-2.5%0.5%
VWIV43.3%33.0%59.0%59.0%33.0%
Skew 25d9.4%5.3%16.7%16.7%6.8%
Skew 10d16.2%8.8%31.8%31.8%11.5%
Call IV 25d38.3%29.0%48.7%48.7%29.0%
Put IV 25d47.8%35.8%65.4%65.4%35.8%
Bid-Ask Spread %4.541.9310.263.262.34
Gamma HHI0.080.040.130.040.13
Net GEX197.9M35.1M373.5M38.6M373.5M
Net DEX-5.76B-10.12B-81.6M-81.6M-8.66B
Net VEX-57.6M-59.9M-54.5M-54.5M-58.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.520.400.720.720.51
Total Volume364,409.714233,550572,919349,199572,919
Total OI2,341,613.9052,075,8272,547,7342,338,3242,480,244

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-04-01$151.52$160.0056.5%16.4%71.9%59.6%59.0%16.7%-2.5%38.6M-81.6M-54.5M0.723.26N/AN/A203,600145,5991,330,7591,007,565
2020-04-02$154.06$155.0053.1%14.3%72.2%54.8%50.0%15.9%-1.9%64.4M-816.3M-55.0M0.608.34N/AN/A187,656113,1711,358,2471,027,567
2020-04-03$152.89$155.0051.8%13.8%71.1%52.9%48.4%14.4%-1.4%35.1M-423.4M-54.7M0.687.97N/AN/A260,245176,7391,377,0221,047,784
2020-04-06$163.28$155.0042.0%11.4%73.6%39.0%41.3%12.8%-2.3%166.1M-4.03B-56.3M0.489.03N/AN/A245,751117,6981,329,107990,691
2020-04-07$165.68$155.0043.1%12.1%73.0%40.7%41.4%13.1%-1.1%196.8M-5.12B-57.4M0.4710.26N/AN/A279,482132,4201,360,2121,012,671
2020-04-08$164.11$155.0042.1%12.0%72.3%39.2%43.1%12.7%-0.1%180.4M-4.40B-57.1M0.564.59N/AN/A202,169113,4311,383,0831,031,330
2020-04-09$164.99$155.0041.4%11.7%66.4%38.3%40.7%11.5%-0.9%214.8M-4.81B-56.8M0.567.91N/AN/A219,708123,6771,410,2151,049,984
2020-04-13$164.81$155.0041.4%11.8%65.3%38.2%41.8%11.6%-1.0%164.4M-4.33B-55.2M0.533.82N/AN/A157,22382,7841,361,1041,008,092
2020-04-14$173.49$155.0037.5%10.7%61.9%32.8%39.0%8.9%-0.0%281.0M-8.15B-56.0M0.403.36N/AN/A376,377148,8181,380,0061,027,178
2020-04-15$172.40$160.0041.8%12.0%61.6%38.8%41.0%7.9%-2.0%269.8M-7.68B-57.6M0.453.67N/AN/A242,528109,0911,417,3201,053,842
2020-04-16$175.90$160.0043.2%12.4%57.7%40.8%43.6%6.0%-0.5%319.3M-9.43B-59.2M0.413.59N/AN/A359,885147,6021,445,2621,068,074
2020-04-17$177.30$160.0041.4%11.9%54.9%38.3%41.6%5.3%-0.6%321.0M-10.12B-58.4M0.454.56N/AN/A282,945128,4881,459,4801,088,254
2020-04-20$175.94$160.0042.9%12.5%50.7%40.3%43.9%6.1%-1.5%205.3M-7.59B-58.5M0.443.27N/AN/A191,12483,1731,196,798879,029
2020-04-21$169.03$160.0047.6%13.9%51.9%47.0%48.5%7.9%-1.6%131.9M-5.07B-59.8M0.512.75N/AN/A282,143143,9271,242,494906,232
2020-04-22$173.44$160.0044.1%12.7%44.3%42.0%43.3%7.8%-2.0%215.9M-6.76B-59.9M0.452.52N/AN/A160,75372,7971,277,049929,423
2020-04-23$171.93$165.0042.8%12.7%44.6%40.2%43.7%7.1%-1.9%157.2M-6.10B-59.4M0.471.93N/AN/A185,07287,2391,282,407942,729
2020-04-24$174.08$165.0039.9%11.8%44.2%36.1%41.7%6.6%-1.6%241.4M-7.01B-59.0M0.682.51N/AN/A173,969117,4831,310,595950,763
2020-04-27$174.38$165.0038.8%11.9%44.0%34.5%41.6%7.0%-1.0%187.6M-6.81B-58.6M0.661.93N/AN/A153,830100,9391,246,129936,355
2020-04-28$170.51$170.0038.5%12.0%42.3%34.1%41.2%5.7%-0.3%146.3M-5.27B-57.9M0.542.48N/AN/A153,50783,5641,284,167968,884
2020-04-29$177.28$170.0037.1%12.0%44.0%32.2%41.8%6.0%-0.9%244.5M-8.23B-58.5M0.425.17N/AN/A375,314157,7641,316,512999,233
2020-04-30$178.25$170.0032.7%9.5%38.9%25.9%33.0%6.8%0.5%373.5M-8.66B-58.5M0.512.34N/AN/A379,877193,0421,416,7611,063,483