MSFT Options History — September 2020

In September 2020, MSFT traded between $200.04 and $232.09. ATM implied volatility averaged 38.0%, placing in the 33.5% IV rank vs the trailing year. The 30-day expected move averaged 10.4%. IV traded below realized volatility by 2.0% (HV 20d: 40.1%). Max pain ranged from $210.00 to $210.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.53.

Notable Days

  • 2020-09-04: Highest Volume — 700,504 contracts
  • 2020-09-03: Largest IV spike — 21.5% change
  • 2020-09-04: Highest IV Rank — 47.8%
  • 2020-09-04: Largest Expected Move — 13.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$208.95$200.04$232.09$226.67$209.86
Max Pain$210.00$210.00$210.00$210.00$210.00
ATM IV38.0%33.4%48.2%39.7%33.8%
Expected Move10.4%8.3%13.4%11.2%8.3%
HV 20d40.1%23.7%44.4%23.7%43.1%
HV 60d33.5%29.5%34.9%29.5%34.7%
IV Rank33.5%26.9%47.8%35.8%27.6%
IV Percentile76.2%63.5%91.3%82.9%63.5%
Term Structure0.9%-1.4%3.7%-0.6%3.2%
VWIV37.0%29.7%47.7%40.8%29.7%
Skew 25d3.5%1.5%5.8%1.5%3.8%
Skew 10d7.1%1.3%12.5%5.9%7.0%
Call IV 25d36.9%31.8%47.3%39.8%31.9%
Put IV 25d40.4%35.6%51.9%41.2%35.6%
Bid-Ask Spread %6.182.9016.902.903.37
Gamma HHI0.070.060.090.090.07
Net GEX275.9M36.6M708.2M594.7M365.7M
Net DEX-9.19B-22.36B-3.77B-19.12B-9.69B
Net VEX-91.0M-99.6M-88.0M-93.0M-88.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.530.220.770.330.55
Total Volume377,097161,324700,504287,343277,495
Total OI3,166,455.0482,914,0123,431,7173,084,5802,982,973

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-09-01$226.67$210.0039.7%11.2%23.7%35.8%40.8%1.5%-0.6%594.7M-19.12B-93.0M0.332.90N/AN/A215,77571,5681,812,1661,272,414
2020-09-02$232.09$210.0038.9%10.5%24.8%34.6%38.2%1.8%0.0%708.2M-22.36B-93.2M0.224.41N/AN/A509,966112,0901,845,8731,295,871
2020-09-03$216.99$210.0047.2%13.2%35.1%46.4%46.2%5.8%-0.2%309.6M-12.88B-97.6M0.419.41N/AN/A462,453191,5081,876,5831,317,923
2020-09-04$215.94$210.0048.2%13.4%34.8%47.8%47.7%4.2%-0.3%313.4M-12.61B-99.6M0.5216.90N/AN/A460,828239,6761,955,4261,341,938
2020-09-08$203.68$210.0045.9%12.7%39.7%44.6%45.0%3.2%-1.4%194.9M-6.69B-92.5M0.458.22N/AN/A308,155140,1491,864,5801,320,030
2020-09-09$211.69$210.0040.7%11.6%41.7%37.3%40.5%3.4%-0.2%361.0M-10.83B-95.1M0.4211.27N/AN/A347,299144,9491,931,6771,365,511
2020-09-10$206.14$210.0038.9%11.0%42.0%34.8%38.4%3.9%-0.7%216.4M-7.38B-92.6M0.499.32N/AN/A297,283145,6891,952,7401,390,401
2020-09-11$203.67$210.0037.5%10.6%42.2%32.8%37.0%3.2%-0.5%149.0M-5.92B-90.8M0.644.54N/AN/A306,660196,5871,987,4861,415,643
2020-09-14$206.54$210.0033.9%9.7%42.5%27.6%35.8%3.3%2.4%242.9M-7.57B-89.1M0.524.54N/AN/A197,576103,2281,890,1561,385,089
2020-09-15$207.76$210.0033.4%9.6%42.4%26.9%33.5%3.3%2.8%270.5M-8.23B-90.0M0.494.84N/AN/A171,64484,2771,902,4211,402,540
2020-09-16$206.04$210.0035.6%10.2%42.4%30.1%35.7%3.9%2.0%213.9M-7.31B-88.9M0.776.82N/AN/A132,210101,3521,933,9821,425,083
2020-09-17$202.10$210.0036.8%10.4%42.8%31.7%37.0%3.4%1.9%107.8M-5.22B-88.4M0.706.98N/AN/A202,176141,5921,943,0461,438,309
2020-09-18$200.04$210.0035.5%10.0%41.9%29.9%35.1%4.1%2.2%36.6M-3.77B-88.0M0.717.21N/AN/A280,214198,0971,963,0961,468,621
2020-09-21$201.48$210.0037.4%10.2%42.1%32.5%36.8%3.0%0.2%131.0M-5.45B-88.4M0.683.99N/AN/A210,845142,9581,681,8631,232,149
2020-09-22$207.64$210.0035.7%9.6%43.7%30.2%34.1%3.1%0.8%271.2M-8.67B-89.8M0.483.48N/AN/A209,574100,6531,689,0621,252,231
2020-09-23$201.54$210.0038.5%10.2%44.4%34.1%35.7%4.5%-0.2%130.6M-5.46B-88.8M0.534.59N/AN/A160,08784,4461,714,3421,265,745
2020-09-24$203.35$210.0037.6%10.0%43.7%32.9%35.2%3.3%0.1%180.7M-6.50B-89.5M0.516.50N/AN/A184,37494,3471,749,6121,284,940
2020-09-25$207.81$210.0034.3%8.8%42.7%28.3%31.6%3.1%0.6%389.2M-9.12B-89.5M0.664.12N/AN/A189,513125,3821,768,0991,302,921
2020-09-28$209.46$210.0034.2%8.7%42.8%28.1%31.4%4.9%2.9%318.7M-9.64B-88.4M0.523.33N/AN/A141,33673,7021,677,6751,239,898
2020-09-29$207.47$210.0034.7%8.7%42.8%28.8%31.4%3.5%3.7%288.8M-8.50B-88.4M0.593.10N/AN/A101,37759,9471,703,0871,252,354
2020-09-30$209.86$210.0033.8%8.3%43.1%27.6%29.7%3.8%3.2%365.7M-9.69B-88.5M0.553.37N/AN/A178,68298,8131,715,7421,267,231