MSFT Options History — December 2020

In December 2020, MSFT traded between $211.50 and $225.25. ATM implied volatility averaged 26.8%, placing in the 16.5% IV rank vs the trailing year. The 30-day expected move averaged 7.5%. IV traded above realized volatility by 7.8% (HV 20d: 19.1%). Max pain ranged from $190.00 to $215.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 20 of 22 days. Put/call ratio averaged 0.50.

Notable Days

  • 2020-12-16: Highest Volume — 622,514 contracts
  • 2020-12-28: Largest IV spike — 8.5% change
  • 2020-12-09: Highest IV Rank — 18.5%
  • 2020-12-09: Largest Expected Move — 8.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$217.85$211.50$225.25$215.81$221.47
Max Pain$202.61$190.00$215.00$215.00$210.00
ATM IV26.8%24.8%29.1%25.8%28.8%
Expected Move7.5%6.8%8.0%7.7%6.8%
HV 20d19.1%14.1%31.8%31.8%17.1%
HV 60d29.0%27.3%33.2%33.2%27.3%
IV Rank16.5%13.5%18.5%16.2%14.3%
IV Percentile27.4%17.9%38.1%24.2%36.5%
Term Structure1.3%-0.0%4.2%1.8%0.4%
VWIV26.8%24.7%28.5%27.0%24.7%
Skew 25d2.1%0.9%3.2%1.2%2.8%
Skew 10d4.7%2.2%7.2%2.8%5.8%
Call IV 25d26.2%23.8%28.5%25.7%27.9%
Put IV 25d28.3%25.0%31.4%26.9%30.6%
Bid-Ask Spread %2.471.484.642.201.66
Gamma HHI0.080.070.130.070.08
Net GEX476.4M251.8M705.8M396.0M496.9M
Net DEX-9.94B-14.05B-6.16B-8.89B-11.14B
Net VEX-85.4M-90.8M-81.8M-82.8M-84.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.500.340.680.450.50
Total Volume298,639.045156,049622,514347,256247,459
Total OI3,069,178.0912,860,9963,417,2052,903,8333,012,360

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-12-01$215.81$215.0025.8%7.7%31.8%16.2%27.0%1.2%1.8%396.0M-8.89B-82.8M0.452.20N/AN/A239,027108,2291,620,1521,283,681
2020-12-02$214.97$215.0026.0%7.5%30.0%16.5%26.9%1.2%1.9%406.2M-8.48B-83.1M0.622.69N/AN/A128,44379,5141,661,1631,301,843
2020-12-03$214.29$190.0025.7%7.8%25.6%16.0%27.9%1.5%2.3%387.3M-8.10B-82.3M0.524.64N/AN/A145,04476,0001,678,9071,316,697
2020-12-04$213.50$195.0024.8%7.5%23.8%14.8%26.6%1.1%2.2%338.4M-7.50B-81.8M0.682.88N/AN/A163,128110,4641,707,0271,330,571
2020-12-07$213.40$200.0026.7%7.8%23.5%17.5%27.7%1.3%-0.0%321.7M-7.44B-82.0M0.533.51N/AN/A139,31873,9571,676,4161,332,920
2020-12-08$216.18$200.0026.0%7.6%23.7%16.5%26.9%0.9%0.5%465.7M-9.25B-82.6M0.462.68N/AN/A198,77491,1011,717,0071,359,137
2020-12-09$211.72$200.0027.4%8.0%18.0%18.5%28.5%2.0%0.4%275.6M-6.28B-82.9M0.423.97N/AN/A228,39497,0071,753,2721,367,681
2020-12-10$211.50$200.0027.3%8.0%14.4%18.4%28.3%2.1%0.5%251.8M-6.16B-82.8M0.612.64N/AN/A161,18797,9431,775,4611,392,618
2020-12-11$212.51$200.0027.1%7.8%14.3%18.1%27.4%2.3%-0.0%414.2M-6.79B-83.8M0.552.46N/AN/A289,173158,6561,790,7261,411,633
2020-12-14$214.14$200.0026.6%7.7%14.1%17.4%27.0%3.2%0.3%358.3M-7.56B-82.0M0.641.66N/AN/A165,744105,8511,737,1391,411,828
2020-12-15$213.93$200.0027.2%7.8%14.1%18.2%28.3%2.8%1.5%358.6M-7.36B-84.3M0.552.19N/AN/A153,89283,9371,766,3041,436,256
2020-12-16$219.74$200.0027.2%7.8%16.8%18.2%27.5%2.9%0.5%634.9M-11.58B-87.8M0.343.54N/AN/A464,841157,6731,801,4081,460,950
2020-12-17$218.72$200.0026.7%7.6%16.2%17.5%27.2%2.0%0.4%616.3M-11.00B-89.3M0.512.88N/AN/A216,019110,7731,876,9671,480,816
2020-12-18$217.73$200.0026.9%7.6%16.3%17.4%28.0%2.4%0.6%440.8M-10.25B-90.8M0.662.70N/AN/A182,327120,6021,910,9751,506,230
2020-12-21$222.08$200.0026.8%7.6%17.3%17.3%26.9%2.6%3.7%546.1M-12.58B-88.9M0.432.02N/AN/A317,625135,8941,588,6881,272,308
2020-12-22$223.83$205.0026.0%7.3%17.2%16.1%26.6%2.5%3.5%644.3M-13.71B-89.5M0.431.65N/AN/A229,58899,3291,631,1411,303,624
2020-12-23$222.35$205.0025.6%7.2%17.1%15.3%25.4%1.8%3.8%580.8M-12.51B-89.1M0.591.67N/AN/A135,65480,0341,651,9341,318,566
2020-12-24$222.78$205.0025.8%7.0%17.0%13.5%24.8%1.8%4.2%705.8M-12.73B-89.2M0.471.77N/AN/A105,98650,0631,674,9011,335,093
2020-12-28$225.25$205.0028.0%7.0%17.3%15.4%24.8%2.1%0.5%657.5M-14.05B-87.0M0.361.70N/AN/A215,50278,3571,619,8081,294,595
2020-12-29$224.69$205.0028.9%7.2%16.8%14.4%25.3%3.0%0.1%674.2M-13.60B-86.5M0.371.74N/AN/A215,17580,4941,653,5541,303,362
2020-12-30$222.08$207.5029.1%7.1%17.1%14.6%25.3%2.4%0.5%510.2M-11.72B-85.6M0.361.48N/AN/A171,07160,8101,680,4521,315,747
2020-12-31$221.47$210.0028.8%6.8%17.1%14.3%24.7%2.8%0.4%496.9M-11.14B-84.8M0.501.66N/AN/A165,38882,0711,685,8451,326,515