MSFT Options History — November 2020

In November 2020, MSFT traded between $200.89 and $223.99. ATM implied volatility averaged 27.7%, placing in the 18.9% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded below realized volatility by 9.4% (HV 20d: 37.1%). Max pain ranged from $205.00 to $215.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 0.58.

Notable Days

  • 2020-11-10: Highest Volume — 542,905 contracts
  • 2020-11-04: Largest IV drop — 13.2% change
  • 2020-11-02: Highest IV Rank — 33.8%
  • 2020-11-02: Largest Expected Move — 11.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$214.28$200.89$223.99$200.89$213.08
Max Pain$211.75$205.00$215.00$210.00$215.00
ATM IV27.7%24.4%38.3%38.3%25.8%
Expected Move8.1%7.1%11.9%11.9%7.6%
HV 20d37.1%31.7%40.5%32.2%31.7%
HV 60d35.9%33.1%37.2%33.9%33.1%
IV Rank18.9%14.3%33.8%33.8%16.3%
IV Percentile33.2%21.0%76.2%76.2%24.6%
Term Structure0.2%-0.3%1.5%-0.3%1.5%
VWIV29.1%25.3%41.6%41.6%26.9%
Skew 25d3.5%1.5%6.6%6.6%1.5%
Skew 10d7.4%3.1%12.9%12.9%3.1%
Call IV 25d26.5%24.0%35.1%35.1%25.3%
Put IV 25d30.0%25.7%41.8%41.8%26.8%
Bid-Ask Spread %3.362.146.135.052.24
Gamma HHI0.100.060.340.070.07
Net GEX465.3M142.4M1.01B142.4M290.5M
Net DEX-9.23B-17.06B-3.76B-3.76B-7.26B
Net VEX-85.2M-91.0M-80.4M-85.9M-81.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.580.320.900.470.55
Total Volume275,866.85171,936542,905234,068218,918
Total OI3,131,362.12,786,5873,354,2143,118,0222,847,359

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-11-02$200.89$210.0038.3%11.9%32.2%33.8%41.6%6.6%-0.3%142.4M-3.76B-85.9M0.475.05N/AN/A158,79375,2751,849,1731,268,849
2020-11-03$207.45$210.0034.6%10.8%33.5%28.7%37.9%6.2%0.0%257.8M-6.82B-85.0M0.694.52N/AN/A135,21193,8041,849,1731,268,849
2020-11-04$216.75$210.0030.0%9.1%36.4%22.2%34.0%5.4%-0.2%577.2M-12.38B-91.0M0.613.58N/AN/A234,230143,1681,940,9271,301,483
2020-11-05$222.22$205.0029.4%8.7%37.3%21.3%31.5%4.4%0.2%740.1M-16.13B-90.7M0.743.42N/AN/A224,899166,0051,947,6791,310,983
2020-11-06$223.99$210.0027.2%8.1%36.4%18.2%29.8%4.2%0.2%780.1M-17.06B-89.8M0.834.83N/AN/A154,580128,3611,956,7571,342,956
2020-11-09$221.01$210.0027.0%7.8%35.2%18.0%28.1%3.6%0.1%640.6M-14.00B-86.1M0.646.13N/AN/A171,207110,1751,884,7951,298,714
2020-11-10$210.74$210.0030.1%8.6%38.8%22.3%30.6%4.3%0.1%301.6M-7.31B-85.4M0.345.29N/AN/A404,864138,0411,904,7651,315,183
2020-11-11$216.90$210.0027.9%8.1%40.3%19.2%28.5%3.4%0.4%655.3M-11.66B-88.5M0.523.01N/AN/A152,82380,0132,015,5401,338,674
2020-11-12$215.01$210.0029.3%8.5%40.3%21.1%31.2%3.8%0.4%403.7M-9.84B-87.4M0.904.43N/AN/A120,162107,8901,878,9011,355,150
2020-11-13$217.17$210.0026.5%7.8%40.5%17.2%28.1%3.0%1.0%596.9M-11.04B-86.3M0.583.20N/AN/A119,39269,6651,894,1181,374,818
2020-11-16$216.39$210.0026.0%7.5%39.5%16.5%27.0%3.1%-0.3%462.3M-10.18B-83.9M0.592.46N/AN/A120,53470,7841,815,5151,321,181
2020-11-17$214.59$210.0026.1%7.5%39.6%16.7%26.3%3.2%0.2%415.9M-9.19B-82.9M0.322.62N/AN/A286,13390,8541,847,9751,334,794
2020-11-18$212.01$215.0026.3%7.5%39.8%16.9%26.3%3.1%-0.3%304.9M-5.96B-83.5M0.532.33N/AN/A167,04988,9081,810,0721,363,413
2020-11-19$212.83$215.0025.1%7.2%39.8%15.3%25.9%3.3%0.4%326.7M-6.51B-82.9M0.642.59N/AN/A141,46890,0271,849,3911,377,546
2020-11-20$211.41$215.0025.5%7.3%39.8%15.8%26.1%3.1%-0.2%252.2M-5.58B-82.8M0.522.35N/AN/A179,78893,8991,843,5331,389,665
2020-11-23$210.42$215.0025.1%7.2%38.0%15.2%25.6%2.5%0.1%220.1M-5.68B-80.4M0.572.14N/AN/A195,584112,2671,554,0271,232,560
2020-11-24$213.24$215.0025.0%7.1%37.1%15.1%25.5%1.8%-0.1%413.1M-7.38B-82.4M0.452.37N/AN/A205,14191,3741,598,7331,269,205
2020-11-25$214.36$215.0024.4%7.1%32.8%14.3%25.3%1.8%0.1%517.5M-8.18B-83.4M0.562.33N/AN/A130,80273,3131,636,8301,285,096
2020-11-27$215.17$215.0024.9%7.2%32.8%15.0%26.2%1.8%-0.1%1.01B-8.69B-84.3M0.562.38N/AN/A110,49461,4421,656,8681,295,992
2020-11-30$213.08$215.0025.8%7.6%31.7%16.3%26.9%1.5%1.5%290.5M-7.26B-81.6M0.552.24N/AN/A140,82078,0981,587,4621,259,897