MSFT Options History — May 2020

In May 2020, MSFT traded between $175.18 and $187.25. ATM implied volatility averaged 29.4%, placing in the 21.3% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded below realized volatility by 0.5% (HV 20d: 29.9%). Max pain ranged from $155.00 to $170.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 0.52.

Notable Days

  • 2020-05-27: Highest Volume — 409,540 contracts
  • 2020-05-13: Largest IV spike — 19.5% change
  • 2020-05-01: Highest IV Rank — 28.6%
  • 2020-05-01: Largest Expected Move — 10.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$182.36$175.18$187.25$175.18$184.17
Max Pain$163.75$155.00$170.00$170.00$170.00
ATM IV29.4%25.2%34.6%34.6%25.2%
Expected Move8.5%7.0%10.1%10.1%7.0%
HV 20d29.9%21.0%39.8%39.8%21.2%
HV 60d51.9%48.7%53.1%52.8%48.7%
IV Rank21.3%15.4%28.6%28.6%15.4%
IV Percentile75.8%60.7%81.7%81.7%60.7%
Term Structure0.3%-0.8%1.3%0.2%0.4%
VWIV30.0%25.2%35.1%34.9%25.2%
Skew 25d7.2%6.1%8.9%7.6%6.3%
Skew 10d13.1%11.1%16.7%13.1%12.4%
Call IV 25d26.3%22.8%31.0%31.0%22.8%
Put IV 25d33.4%29.1%39.0%38.6%29.1%
Bid-Ask Spread %2.571.824.202.292.24
Gamma HHI0.110.070.260.080.22
Net GEX270.6M133.2M571.5M168.1M380.0M
Net DEX-7.91B-11.24B-5.67B-6.74B-6.93B
Net VEX-56.8M-59.1M-54.6M-59.1M-57.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.520.230.660.540.66
Total Volume287,012.4186,491409,540341,170249,841
Total OI2,243,837.152,009,7502,485,9782,485,9782,200,234

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-05-01$175.18$170.0034.6%10.1%39.8%28.6%34.9%7.6%0.2%168.1M-6.74B-59.1M0.542.29N/AN/A221,424119,7461,420,7261,065,252
2020-05-04$178.59$155.0034.5%9.8%39.7%28.5%35.1%7.5%0.3%238.6M-8.00B-58.4M0.463.29N/AN/A190,03288,0201,280,407983,553
2020-05-05$180.65$155.0031.3%9.3%33.3%24.0%32.2%7.4%0.3%316.0M-9.06B-57.5M0.423.41N/AN/A284,752119,3921,302,960998,971
2020-05-06$182.45$160.0030.9%9.4%33.2%23.4%32.7%7.8%0.5%346.9M-9.61B-57.7M0.582.02N/AN/A180,280105,2671,312,5281,018,562
2020-05-07$183.24$160.0030.0%8.6%32.8%22.2%31.5%7.2%0.5%388.3M-9.89B-57.0M0.541.97N/AN/A175,37394,4261,316,8681,039,218
2020-05-08$184.43$160.0027.0%8.1%32.8%17.9%28.9%6.3%0.9%571.5M-10.67B-55.5M0.492.74N/AN/A176,70987,4621,330,7281,054,852
2020-05-11$187.25$160.0026.7%8.0%32.8%17.5%28.9%6.1%1.2%363.9M-11.24B-54.6M0.481.86N/AN/A190,69892,1281,270,6901,009,313
2020-05-12$183.57$160.0028.8%8.1%29.5%20.4%29.1%6.5%-0.5%276.5M-9.33B-55.3M0.652.28N/AN/A147,65995,7611,285,3841,030,127
2020-05-13$178.42$160.0034.4%9.6%31.4%28.4%34.4%8.9%-0.8%133.2M-6.73B-57.0M0.634.20N/AN/A223,449141,0011,304,0561,045,487
2020-05-14$179.39$160.0032.9%9.5%30.6%26.3%33.6%8.8%0.3%157.6M-7.23B-57.4M0.644.09N/AN/A203,418129,8031,328,4101,072,280
2020-05-15$181.36$160.0030.6%9.0%30.8%23.0%31.3%8.4%1.3%241.2M-8.32B-57.6M0.592.12N/AN/A182,984108,2601,346,5601,083,424
2020-05-18$185.71$160.0027.3%7.9%31.6%18.4%27.9%7.5%0.5%264.3M-8.22B-55.2M0.472.01N/AN/A168,48078,7151,110,069899,681
2020-05-19$185.06$165.0027.4%7.9%27.4%18.5%27.1%7.0%0.4%272.9M-8.03B-55.8M0.232.83N/AN/A246,69155,6591,145,196921,794
2020-05-20$185.42$170.0027.6%7.9%26.2%18.8%28.0%6.8%0.4%290.9M-7.51B-56.9M0.571.95N/AN/A150,61985,5761,132,824940,672
2020-05-21$184.04$170.0028.0%8.0%26.1%19.4%28.4%6.9%0.3%249.1M-6.86B-57.6M0.491.82N/AN/A143,17770,8781,155,387967,788
2020-05-22$183.38$170.0028.2%8.0%26.0%19.6%28.6%6.9%0.8%195.4M-6.50B-57.6M0.532.37N/AN/A121,98764,5041,172,697973,165
2020-05-26$181.38$170.0027.6%7.9%26.5%18.8%27.6%6.6%-0.5%172.0M-5.69B-55.7M0.502.40N/AN/A169,75284,4931,114,604934,761
2020-05-27$181.56$170.0027.4%7.7%24.9%18.5%27.1%6.2%0.3%164.7M-5.67B-56.5M0.432.70N/AN/A286,584122,9561,155,425967,182
2020-05-28$182.03$170.0027.3%7.8%21.0%18.4%27.5%6.8%-0.1%221.6M-6.07B-57.4M0.522.74N/AN/A185,90396,3891,191,991992,917
2020-05-29$184.17$170.0025.2%7.0%21.2%15.4%25.2%6.3%0.4%380.0M-6.93B-57.2M0.662.24N/AN/A150,56099,2811,199,0031,001,231