MSFT Options History — February 2021

In February 2021, MSFT traded between $229.43 and $244.50. ATM implied volatility averaged 25.8%, placing in the 5.6% IV rank vs the trailing year. The 30-day expected move averaged 7.4%. IV traded above realized volatility by 1.8% (HV 20d: 24.0%). Max pain ranged from $220.00 to $230.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 17 of 19 days. Put/call ratio averaged 0.53.

Notable Days

  • 2021-02-01: Highest Volume — 440,355 contracts
  • 2021-02-25: Largest IV spike — 19.5% change
  • 2021-02-25: Highest IV Rank — 17.2%
  • 2021-02-25: Largest Expected Move — 9.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$240.27$229.43$244.50$240.15$234.87
Max Pain$224.61$220.00$230.00$220.00$230.00
ATM IV25.8%22.7%33.5%29.9%28.3%
Expected Move7.4%6.7%9.7%8.5%8.1%
HV 20d24.0%19.4%28.7%28.7%22.3%
HV 60d21.6%20.2%25.5%25.5%21.8%
IV Rank5.6%0.4%17.2%13.9%9.0%
IV Percentile12.1%0.4%52.4%36.5%29.0%
Term Structure0.6%-0.5%1.2%0.4%0.2%
VWIV27.1%24.6%35.6%30.8%28.8%
Skew 25d3.5%2.3%7.5%3.7%6.2%
Skew 10d8.0%5.0%14.4%7.7%12.3%
Call IV 25d24.8%21.8%31.1%28.9%26.2%
Put IV 25d28.3%24.5%38.6%32.6%32.3%
Bid-Ask Spread %3.512.307.462.874.29
Gamma HHI0.100.050.180.080.10
Net GEX557.2M180.3M845.2M542.8M416.7M
Net DEX-12.01B-16.54B-4.30B-14.09B-7.31B
Net VEX-90.6M-93.6M-87.8M-91.6M-92.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.530.290.850.490.58
Total Volume277,967.211164,227440,355440,355266,128
Total OI2,629,745.6322,405,4002,750,6462,532,4132,632,855

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-02-01$240.15$220.0029.9%8.5%28.7%13.9%30.8%3.7%0.4%542.8M-14.09B-91.6M0.492.87N/AN/A294,584145,7711,440,2101,092,203
2021-02-02$240.77$220.0026.7%7.4%27.6%9.0%27.4%2.9%0.5%631.5M-14.52B-90.4M0.553.59N/AN/A164,86291,0031,489,4431,128,623
2021-02-03$244.10$222.5026.5%7.2%27.7%8.4%25.6%2.4%0.7%731.9M-16.54B-89.9M0.523.34N/AN/A259,168135,6061,509,7671,147,680
2021-02-04$241.54$220.0025.3%7.6%26.5%4.5%28.4%2.3%0.6%686.8M-14.66B-90.9M0.605.09N/AN/A172,995104,4551,545,9781,172,578
2021-02-05$241.62$220.0024.3%7.4%25.2%3.0%26.2%2.3%0.8%767.6M-14.94B-90.5M0.483.87N/AN/A154,84174,0941,571,5641,179,082
2021-02-08$241.64$220.0024.0%7.2%25.3%2.5%26.6%2.3%1.1%603.3M-14.05B-89.1M0.693.21N/AN/A97,22966,9981,486,3661,133,848
2021-02-09$244.50$220.0024.1%7.1%24.8%2.6%26.5%2.3%0.6%694.6M-15.71B-89.1M0.492.65N/AN/A159,71077,9731,502,6941,155,160
2021-02-10$242.75$220.0024.5%7.2%24.4%3.3%27.0%3.1%0.6%626.8M-14.34B-89.1M0.523.28N/AN/A153,41479,7971,510,6981,175,316
2021-02-11$243.83$220.0024.0%7.1%24.4%2.5%24.9%2.9%0.8%716.8M-15.16B-89.9M0.444.39N/AN/A118,21451,7291,537,0821,190,895
2021-02-12$244.22$220.0022.7%6.7%23.5%0.4%24.9%2.8%0.9%845.2M-15.39B-88.9M0.452.97N/AN/A166,12674,6531,537,2371,204,291
2021-02-16$243.46$225.0023.9%6.9%23.5%2.2%24.9%3.3%1.1%626.5M-13.71B-87.8M0.293.06N/AN/A324,43295,3411,469,0761,141,422
2021-02-17$243.89$230.0024.2%6.9%23.3%2.7%24.6%3.5%0.7%630.0M-11.44B-90.3M0.632.87N/AN/A140,49288,6371,426,1841,184,972
2021-02-18$243.62$230.0024.2%6.9%19.4%2.8%25.3%3.4%1.2%664.5M-11.62B-92.3M0.853.28N/AN/A93,83979,8891,465,2771,201,892
2021-02-19$241.14$230.0024.1%6.9%20.1%2.3%25.0%3.2%0.8%432.2M-10.13B-91.6M0.522.89N/AN/A191,39399,9871,470,1361,214,180
2021-02-22$235.12$230.0026.2%7.4%22.5%5.7%26.7%4.0%0.2%244.0M-6.91B-90.4M0.562.30N/AN/A221,309124,8391,352,3441,053,056
2021-02-23$234.01$230.0026.2%7.4%22.5%5.7%27.8%4.7%0.2%244.2M-6.29B-91.3M0.542.55N/AN/A189,109102,7021,395,6261,097,731
2021-02-24$234.53$230.0028.0%7.9%21.6%8.5%28.6%3.7%-0.0%301.0M-7.05B-92.2M0.352.75N/AN/A227,20079,7821,415,8261,126,523
2021-02-25$229.43$230.0033.5%9.7%23.0%17.2%35.6%7.5%-0.5%180.3M-4.30B-93.6M0.557.46N/AN/A202,448110,6281,458,4001,148,952
2021-02-26$234.87$230.0028.3%8.1%22.3%9.0%28.8%6.2%0.2%416.7M-7.31B-92.5M0.584.29N/AN/A168,62197,5071,461,5551,171,300