MSFT Options History — August 2020

In August 2020, MSFT traded between $204.15 and $228.74. ATM implied volatility averaged 32.3%, placing in the 25.4% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded below realized volatility by 1.2% (HV 20d: 33.6%). Max pain ranged from $190.00 to $205.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.33.

Notable Days

  • 2020-08-27: Highest Volume — 1,350,686 contracts
  • 2020-08-27: Largest IV spike — 17.4% change
  • 2020-08-27: Highest IV Rank — 36.3%
  • 2020-08-27: Largest Expected Move — 11.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$214.32$204.15$228.74$216.74$226.32
Max Pain$198.45$190.00$205.00$200.00$205.00
ATM IV32.3%27.7%40.1%34.6%37.5%
Expected Move9.2%7.9%11.4%10.2%10.4%
HV 20d33.6%25.3%37.5%34.5%25.3%
HV 60d29.0%28.1%29.8%28.6%29.5%
IV Rank25.4%18.9%36.3%28.6%32.8%
IV Percentile67.3%54.0%83.7%75.4%80.6%
Term Structure0.4%-0.9%1.1%-0.9%0.1%
VWIV33.2%28.1%42.0%36.4%37.9%
Skew 25d2.3%-1.0%3.8%-1.0%1.7%
Skew 10d4.7%-2.5%9.2%-2.5%4.9%
Call IV 25d32.1%26.9%41.9%36.0%37.7%
Put IV 25d34.5%30.4%41.2%35.0%39.4%
Bid-Ask Spread %3.742.636.594.482.63
Gamma HHI0.100.080.120.080.09
Net GEX478.9M235.9M738.0M387.2M566.9M
Net DEX-13.49B-21.42B-8.68B-14.34B-18.75B
Net VEX-83.2M-94.0M-65.3M-65.3M-93.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.330.180.440.230.33
Total Volume486,465.143244,7971,350,6861,216,773371,487
Total OI2,829,155.6672,327,3883,138,3052,327,3883,003,785

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-08-03$216.74$200.0034.6%10.2%34.5%28.6%36.4%-1.0%-0.9%387.2M-14.34B-65.3M0.234.48N/AN/A992,226224,5471,284,9951,042,393
2020-08-04$212.22$205.0032.8%9.3%35.4%26.1%33.3%1.0%-0.1%391.0M-11.82B-68.5M0.383.67N/AN/A446,393171,7441,391,0711,080,701
2020-08-05$212.30$205.0032.8%9.0%35.1%26.1%32.4%2.1%-0.0%431.5M-11.65B-72.0M0.206.59N/AN/A400,67581,7961,459,6531,130,417
2020-08-06$215.61$190.0032.0%9.3%35.4%25.0%33.2%1.3%0.4%666.2M-14.92B-78.7M0.244.08N/AN/A349,05582,8711,639,3081,148,346
2020-08-07$212.56$190.0033.2%9.6%35.8%26.7%34.7%1.8%-0.1%526.8M-12.70B-79.1M0.404.61N/AN/A301,286121,1351,642,6271,159,266
2020-08-10$207.35$190.0034.2%10.0%36.2%28.1%34.9%3.4%0.6%280.9M-9.80B-79.4M0.383.19N/AN/A322,053121,6301,568,3801,117,371
2020-08-11$204.15$195.0033.7%9.8%36.4%27.4%35.3%3.0%0.6%235.9M-8.68B-83.1M0.403.52N/AN/A217,08486,0491,671,3711,153,294
2020-08-12$209.11$195.0031.2%9.1%37.5%23.9%32.4%2.6%0.4%403.6M-11.42B-82.8M0.383.28N/AN/A259,12199,1371,699,4501,176,117
2020-08-13$208.72$195.0031.6%9.1%37.0%24.4%32.8%3.4%0.5%380.0M-11.02B-83.2M0.385.34N/AN/A209,68280,3371,714,3191,193,639
2020-08-14$208.25$195.0031.1%9.0%36.9%23.7%32.6%3.4%0.4%287.5M-10.58B-82.1M0.404.38N/AN/A200,45479,6211,724,7451,212,327
2020-08-17$210.25$195.0029.0%8.4%33.6%20.7%29.3%3.6%1.0%399.6M-11.91B-81.6M0.443.49N/AN/A169,58975,2081,660,9021,166,976
2020-08-18$211.83$195.0028.1%8.1%33.4%19.5%29.7%3.3%0.5%497.8M-12.78B-83.5M0.263.22N/AN/A310,24081,0791,709,8721,196,152
2020-08-19$210.12$200.0028.0%8.0%33.3%19.3%28.1%3.8%0.7%420.7M-10.54B-84.7M0.422.78N/AN/A242,498100,7681,661,5231,217,836
2020-08-20$214.85$200.0027.7%7.9%30.8%18.9%28.2%3.6%1.0%689.3M-13.81B-87.2M0.413.49N/AN/A264,097108,3661,720,0511,257,038
2020-08-21$213.15$200.0028.5%8.1%30.7%20.1%29.2%3.4%1.1%533.9M-12.69B-88.2M0.393.00N/AN/A296,319115,3421,741,6041,281,432
2020-08-24$213.28$200.0029.7%8.3%30.5%21.8%29.9%3.4%0.9%426.3M-12.15B-88.0M0.322.63N/AN/A230,33774,6521,587,3771,165,115
2020-08-25$216.32$200.0029.7%8.3%30.6%21.7%30.2%2.5%0.7%549.2M-14.06B-89.0M0.302.93N/AN/A272,30581,0731,632,4061,190,930
2020-08-26$220.80$202.5034.1%9.5%31.2%28.0%33.8%3.1%0.2%636.1M-17.02B-91.1M0.295.14N/AN/A522,448150,1621,690,1081,223,505
2020-08-27$228.11$205.0040.1%11.4%32.7%36.3%42.0%-0.7%-0.4%607.3M-21.15B-91.3M0.183.01N/AN/A1,146,746203,9401,713,4051,244,157
2020-08-28$228.74$205.0039.1%11.0%32.6%35.0%40.1%0.7%0.8%738.0M-21.42B-94.0M0.283.10N/AN/A431,297120,9191,851,8001,286,505
2020-08-31$226.32$205.0037.5%10.4%25.3%32.8%37.9%1.7%0.1%566.9M-18.75B-93.3M0.332.63N/AN/A278,55492,9331,765,8251,237,960