MSFT Options History — July 2020

In July 2020, MSFT traded between $201.27 and $214.02. ATM implied volatility averaged 34.5%, placing in the 28.5% IV rank vs the trailing year. The 30-day expected move averaged 9.6%. IV traded above realized volatility by 9.0% (HV 20d: 25.5%). Max pain ranged from $185.00 to $205.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 0.44.

Notable Days

  • 2020-07-23: Highest Volume — 950,714 contracts
  • 2020-07-13: Largest IV spike — 10.4% change
  • 2020-07-14: Highest IV Rank — 38.1%
  • 2020-07-15: Largest Expected Move — 11.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$207.23$201.27$214.02$206.22$203.60
Max Pain$201.25$185.00$205.00$185.00$202.50
ATM IV34.5%28.1%41.3%32.6%29.5%
Expected Move9.6%7.3%11.5%7.7%8.4%
HV 20d25.5%17.1%30.2%30.2%26.8%
HV 60d26.5%24.8%28.0%28.0%25.7%
IV Rank28.5%19.5%38.1%25.8%21.5%
IV Percentile75.6%61.9%85.3%75.4%64.3%
Term Structure-0.5%-1.4%0.6%-0.3%0.6%
VWIV33.6%26.4%39.9%27.5%29.8%
Skew 25d3.3%1.8%5.9%5.9%2.4%
Skew 10d5.4%2.4%10.5%10.5%3.7%
Call IV 25d33.0%27.5%39.2%29.3%28.9%
Put IV 25d36.3%30.1%43.0%35.3%31.3%
Bid-Ask Spread %3.412.145.653.715.06
Gamma HHI0.090.060.200.110.07
Net GEX295.3M53.1M557.5M419.3M243.2M
Net DEX-10.65B-14.44B-6.74B-12.30B-8.16B
Net VEX-61.7M-64.8M-56.2M-57.6M-63.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.440.300.620.490.33
Total Volume415,038.182192,175950,714352,638598,192
Total OI2,293,000.5452,080,9792,540,8822,107,1962,419,392

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-07-01$206.22$185.0032.6%7.7%30.2%25.8%27.5%5.9%-0.3%419.3M-12.30B-57.6M0.493.71N/AN/A237,200115,4381,163,962943,234
2020-07-02$207.23$185.0030.7%7.3%29.2%23.2%26.4%5.1%-0.6%557.5M-12.67B-57.1M0.532.76N/AN/A230,420121,8001,183,337961,945
2020-07-06$210.79$200.0032.4%8.9%29.0%25.5%31.1%4.4%-0.9%384.5M-13.23B-56.2M0.372.14N/AN/A304,110113,3211,145,925935,054
2020-07-07$209.64$200.0034.2%9.5%29.3%28.1%33.0%4.4%-0.5%371.3M-12.57B-58.2M0.413.31N/AN/A320,316131,9331,181,047965,726
2020-07-08$212.47$200.0034.1%9.6%29.3%28.0%33.3%4.5%-0.7%433.3M-13.66B-59.3M0.364.09N/AN/A257,88593,4561,229,708994,144
2020-07-09$214.02$200.0037.4%10.3%26.5%32.6%35.6%4.3%-1.3%453.9M-14.44B-59.3M0.333.21N/AN/A338,569111,0681,242,2031,007,974
2020-07-10$213.11$200.0036.5%10.1%17.1%31.4%35.3%3.4%-1.4%427.7M-14.11B-59.9M0.374.33N/AN/A242,16390,1131,283,2431,022,464
2020-07-13$208.88$200.0040.3%11.2%19.3%36.7%38.6%2.9%-0.8%317.2M-11.69B-61.1M0.342.95N/AN/A370,745126,5531,238,938979,771
2020-07-14$207.05$205.0041.3%11.5%19.9%38.1%39.9%3.9%-0.8%274.4M-10.78B-62.2M0.463.03N/AN/A245,464111,9951,286,6511,012,863
2020-07-15$207.49$200.0040.9%11.5%19.3%37.6%39.6%3.5%-0.7%285.6M-11.07B-63.3M0.442.87N/AN/A244,903108,4121,309,9821,026,216
2020-07-16$204.32$200.0040.3%11.3%20.2%36.7%39.3%2.8%-1.1%191.4M-9.52B-63.7M0.503.36N/AN/A234,185116,2721,342,2971,053,353
2020-07-17$202.93$205.0037.2%10.5%20.4%32.4%36.5%1.9%-1.2%122.5M-9.24B-63.1M0.434.53N/AN/A259,704112,5751,380,8531,075,410
2020-07-20$211.93$205.0036.6%10.4%25.2%31.5%36.4%2.8%-1.2%316.4M-11.66B-62.7M0.303.79N/AN/A315,30993,5721,208,476920,673
2020-07-21$209.28$205.0037.7%10.8%25.2%33.0%37.1%3.1%-1.0%292.0M-10.69B-63.1M0.313.09N/AN/A292,87790,9291,237,907946,645
2020-07-22$211.53$205.0034.7%10.0%25.1%28.8%34.7%3.2%-0.1%363.3M-11.76B-62.8M0.553.38N/AN/A385,850211,2821,294,787975,628
2020-07-23$203.29$205.0033.7%9.7%28.2%27.4%34.0%1.8%-0.4%99.0M-7.63B-63.9M0.522.37N/AN/A626,903323,8111,385,5891,068,737
2020-07-24$201.27$205.0031.8%9.1%28.4%24.7%32.3%2.2%0.1%53.1M-6.74B-64.8M0.625.65N/AN/A326,442201,6061,438,0141,102,868
2020-07-27$203.72$205.0030.5%8.7%28.6%22.8%30.6%2.7%-0.2%221.7M-8.26B-64.5M0.432.50N/AN/A230,47399,3611,303,8481,008,047
2020-07-28$202.68$205.0029.6%8.4%28.7%21.6%30.0%2.8%0.3%209.2M-7.74B-63.8M0.472.41N/AN/A150,34770,4571,334,3071,034,319
2020-07-29$204.22$205.0028.1%7.9%27.6%19.5%28.6%2.7%0.4%251.1M-8.41B-63.6M0.522.63N/AN/A126,42365,7521,338,7241,056,163
2020-07-30$203.49$205.0029.0%8.3%26.8%20.8%28.9%2.8%0.3%210.0M-7.96B-63.6M0.573.88N/AN/A180,487102,1671,343,1331,062,455
2020-07-31$203.60$202.5029.5%8.4%26.8%21.5%29.8%2.4%0.6%243.2M-8.16B-63.5M0.335.06N/AN/A450,910147,2821,347,7601,071,632