MSFT Options History — November 2022

In November 2022, MSFT traded between $214.99 and $252.28. ATM implied volatility averaged 30.7%, placing in the 43.4% IV rank vs the trailing year. The 30-day expected move averaged 9.0%. IV traded below realized volatility by 15.4% (HV 20d: 46.1%). Max pain ranged from $240.00 to $245.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.80.

Notable Days

2022-11-10: Highest Volume — 542,200 contracts
2022-11-28: Largest IV spike — 13.4% change
2022-11-02: Highest IV Rank — 58.4%
2022-11-01: Largest Expected Move — 10.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$237.25	$214.99	$252.28	$228.58	$252.28
Max Pain	$240.24	$240.00	$245.00	$240.00	$240.00
ATM IV	30.7%	26.6%	34.0%	32.5%	27.1%
Expected Move	9.0%	7.8%	10.2%	10.2%	8.4%
HV 20d	46.1%	38.6%	50.9%	45.6%	41.7%
HV 60d	38.2%	34.9%	40.6%	34.9%	40.6%
IV Rank	43.4%	21.7%	58.4%	53.3%	24.0%
IV Percentile	44.3%	19.0%	69.4%	57.1%	23.4%
Term Structure	0.2%	-1.9%	1.6%	-0.3%	0.4%
VWIV	31.5%	27.4%	35.0%	35.0%	30.4%
Skew 25d	4.9%	4.1%	5.5%	4.9%	5.0%
Skew 10d	9.5%	7.8%	11.0%	9.6%	9.9%
Call IV 25d	28.3%	24.4%	31.6%	30.5%	24.4%
Put IV 25d	33.2%	29.4%	36.8%	35.4%	29.4%
Bid-Ask Spread %	3.30	2.22	4.62	2.35	2.68
Gamma HHI	0.05	0.03	0.09	0.05	0.05
Net GEX	62.7M	-240.8M	275.8M	-97.5M	273.5M
Net DEX	978.0M	-5.70B	9.72B	5.58B	-5.70B
Net VEX	-80.0M	-87.2M	-66.1M	-74.1M	-82.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.80	0.53	1.34	0.68	0.92
Total Volume	342,487.286	119,748	542,200	297,742	408,817
Total OI	2,760,922.524	2,526,790	2,962,753	2,671,540	2,642,793

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2022-11-01	$228.58	$240.00	32.5%	10.2%	45.6%	53.3%	35.0%	4.9%	-0.3%	-97.5M	5.58B	-74.1M	0.68	2.35	N/A	N/A	177,170	120,572	1,476,306	1,195,234
2022-11-02	$221.73	$240.00	33.9%	10.2%	46.3%	58.4%	34.7%	5.4%	-1.9%	-191.4M	7.96B	-69.3M	0.61	3.57	N/A	N/A	226,605	137,159	1,508,652	1,217,758
2022-11-03	$214.99	$245.00	33.2%	9.7%	47.0%	56.0%	32.4%	5.2%	-0.1%	-240.8M	9.72B	-66.1M	0.78	3.47	N/A	N/A	246,565	191,894	1,561,794	1,231,203
2022-11-04	$220.93	$240.00	32.3%	9.4%	44.9%	51.6%	32.4%	4.5%	-0.2%	-87.3M	7.51B	-71.7M	0.74	3.40	N/A	N/A	250,908	185,250	1,620,243	1,264,390
2022-11-07	$227.74	$240.00	31.8%	9.4%	46.0%	49.6%	32.9%	5.0%	1.0%	-24.9M	4.46B	-75.8M	0.70	3.30	N/A	N/A	189,004	133,142	1,537,555	1,208,826
2022-11-08	$230.06	$240.00	32.5%	9.6%	45.5%	52.3%	33.6%	4.8%	0.8%	23.2M	3.40B	-77.7M	0.87	4.38	N/A	N/A	167,167	145,305	1,565,560	1,224,195
2022-11-09	$224.95	$240.00	34.0%	10.0%	46.2%	57.9%	34.1%	5.3%	0.8%	-43.5M	5.40B	-74.8M	1.34	3.55	N/A	N/A	119,673	160,060	1,580,239	1,236,444
2022-11-10	$241.04	$240.00	30.3%	9.0%	50.9%	43.9%	31.8%	4.1%	1.3%	170.5M	-1.48B	-83.7M	0.62	3.71	N/A	N/A	334,158	208,042	1,602,053	1,282,445
2022-11-11	$247.50	$240.00	30.1%	8.9%	50.8%	43.3%	31.7%	4.4%	1.6%	238.4M	-4.38B	-87.2M	0.66	3.53	N/A	N/A	302,407	198,608	1,628,545	1,311,414
2022-11-14	$242.90	$240.00	31.3%	9.1%	50.2%	47.6%	32.6%	5.2%	-0.3%	89.5M	-1.02B	-85.9M	0.73	3.35	N/A	N/A	169,680	124,280	1,577,591	1,264,199
2022-11-15	$241.91	$240.00	31.6%	9.1%	50.2%	49.0%	31.5%	5.5%	0.6%	98.9M	-640.0M	-85.2M	0.62	4.22	N/A	N/A	248,250	153,348	1,602,126	1,283,484
2022-11-16	$242.25	$240.00	31.8%	9.1%	49.9%	49.5%	31.0%	5.1%	1.1%	105.2M	-188.2M	-85.9M	1.28	3.46	N/A	N/A	162,436	207,364	1,596,547	1,317,425
2022-11-17	$241.33	$240.00	31.1%	8.9%	50.0%	46.8%	31.7%	5.1%	0.5%	89.6M	-19.1M	-84.9M	0.79	3.40	N/A	N/A	167,987	132,254	1,614,168	1,323,659
2022-11-18	$241.24	$240.00	29.8%	8.5%	49.0%	42.0%	29.6%	4.7%	0.5%	40.0M	-249.1M	-83.7M	0.69	3.13	N/A	N/A	208,158	143,767	1,633,669	1,329,084
2022-11-21	$242.49	$240.00	29.7%	8.5%	48.5%	41.7%	30.1%	5.0%	-0.7%	91.4M	-925.1M	-82.5M	0.80	2.48	N/A	N/A	159,683	127,385	1,396,096	1,130,694
2022-11-22	$244.53	$240.00	27.9%	8.1%	48.3%	27.8%	27.9%	4.6%	-0.4%	163.2M	-1.93B	-82.6M	1.14	2.69	N/A	N/A	163,828	185,981	1,429,086	1,143,085
2022-11-23	$247.36	$240.00	27.4%	7.8%	40.7%	25.3%	27.4%	4.5%	0.3%	275.8M	-3.28B	-83.1M	0.75	4.62	N/A	N/A	188,934	142,616	1,457,939	1,160,220
2022-11-25	$247.56	$240.00	26.6%	7.9%	39.5%	21.7%	27.7%	4.7%	-0.2%	263.9M	-3.41B	-83.4M	0.53	2.22	N/A	N/A	78,289	41,459	1,478,386	1,181,254
2022-11-28	$241.36	$240.00	30.1%	9.0%	38.8%	36.6%	31.4%	5.3%	-0.6%	54.5M	-384.6M	-80.6M	0.71	2.57	N/A	N/A	161,823	115,362	1,418,955	1,137,199
2022-11-29	$239.54	$240.00	29.5%	9.0%	38.6%	34.1%	31.1%	5.1%	-0.5%	24.1M	114.9M	-79.9M	0.90	3.26	N/A	N/A	108,705	98,138	1,451,750	1,157,108
2022-11-30	$252.28	$240.00	27.1%	8.4%	41.7%	24.0%	30.4%	5.0%	0.4%	273.5M	-5.70B	-82.9M	0.92	2.68	N/A	N/A	212,378	196,439	1,474,252	1,168,541