MSFT Options History — January 2023

In January 2023, MSFT traded between $222.41 and $248.75. ATM implied volatility averaged 32.0%, placing in the 44.5% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded above realized volatility by 0.0% (HV 20d: 32.0%). Max pain ranged from $230.00 to $245.00. Net GEX was positive for 13 of 20 trading days. Term structure was in contango for 1 of 20 days. Put/call ratio averaged 1.02.

Notable Days

  • 2023-01-25: Highest Volume — 1,109,256 contracts
  • 2023-01-25: Largest IV drop — 20.0% change
  • 2023-01-05: Highest IV Rank — 72.5%
  • 2023-01-05: Largest Expected Move — 10.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$236.93$222.41$248.75$239.28$246.75
Max Pain$235.75$230.00$245.00$245.00$240.00
ATM IV32.0%24.5%38.7%36.2%26.2%
Expected Move9.2%7.6%10.5%9.2%8.1%
HV 20d32.0%27.6%34.3%27.6%30.9%
HV 60d36.9%33.3%39.0%39.0%33.3%
IV Rank44.5%13.2%72.5%61.9%20.3%
IV Percentile50.4%5.2%89.7%83.3%11.1%
Term Structure-0.9%-1.8%0.0%-0.9%-0.7%
VWIV32.2%27.3%35.4%32.4%28.9%
Skew 25d5.0%4.0%6.0%5.5%4.1%
Skew 10d9.6%7.9%12.3%10.3%7.9%
Call IV 25d29.7%23.4%35.9%33.5%24.1%
Put IV 25d34.7%27.3%41.3%39.0%28.3%
Bid-Ask Spread %3.522.078.442.508.40
Gamma HHI0.070.040.240.040.05
Net GEX49.8M-299.3M367.7M38.3M139.2M
Net DEX-214.6M-5.45B5.95B345.8M-3.35B
Net VEX-70.4M-76.6M-65.2M-73.1M-76.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.020.601.771.050.74
Total Volume447,236.55171,3111,109,256239,779171,311
Total OI2,600,971.952,065,6472,827,3742,507,7562,420,577

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-01-03$239.28$245.0036.2%9.2%27.6%61.9%32.4%5.5%-0.9%38.3M345.8M-73.1M1.052.50N/AN/A116,902122,8771,393,2131,114,543
2023-01-04$226.71$245.0038.5%9.6%32.6%71.3%32.6%6.0%-0.6%-185.4M5.22B-66.5M1.452.49N/AN/A351,336510,1411,420,4551,146,794
2023-01-05$222.41$235.0038.7%10.5%32.8%72.5%35.4%5.4%-1.2%-236.2M5.95B-65.2M1.132.42N/AN/A240,209271,8691,495,0961,191,936
2023-01-06$225.32$235.0035.7%9.9%33.4%59.9%35.0%4.7%-1.2%-299.3M4.72B-65.2M1.082.67N/AN/A270,870293,0451,525,8431,215,179
2023-01-09$227.65$235.0035.0%9.7%33.4%56.9%34.4%5.3%-0.6%-83.2M3.14B-67.0M0.832.07N/AN/A185,057153,8251,459,1461,172,668
2023-01-10$228.23$230.0034.6%9.7%33.5%55.1%33.6%5.0%-0.6%-61.6M2.68B-67.6M0.702.17N/AN/A124,65587,2211,497,0691,194,405
2023-01-11$234.35$230.0034.4%9.7%34.3%54.2%34.6%4.6%-0.7%73.9M-105.3M-70.8M1.182.67N/AN/A199,352235,0951,519,3371,215,701
2023-01-12$237.67$235.0032.7%9.2%33.6%47.2%32.8%4.3%-0.6%163.0M-1.61B-70.8M0.923.33N/AN/A220,654203,6891,542,2901,229,005
2023-01-13$238.91$235.0031.3%8.8%33.7%41.4%30.2%4.7%-1.1%148.8M-1.87B-70.6M0.862.92N/AN/A152,700130,9861,563,9051,244,635
2023-01-17$239.97$235.0032.5%9.3%32.1%46.3%33.6%5.3%-1.4%106.2M-1.81B-69.3M1.182.98N/AN/A139,243164,7771,498,8241,190,815
2023-01-18$236.45$235.0033.4%9.6%32.3%50.0%32.9%5.9%-1.3%-9.5M225.3M-69.6M1.772.51N/AN/A171,709303,1611,525,1991,236,312
2023-01-19$233.41$235.0033.5%9.7%30.9%50.8%33.9%5.8%-1.8%-83.9M1.34B-69.1M1.212.89N/AN/A151,649183,1851,551,4531,240,901
2023-01-20$239.80$235.0031.9%9.3%32.1%43.9%33.4%5.8%-1.7%300.5M-2.02B-70.4M0.892.53N/AN/A218,196194,9121,574,9051,252,469
2023-01-23$242.38$235.0032.0%9.6%32.2%44.5%33.7%5.5%-0.9%94.8M-2.26B-70.7M0.603.06N/AN/A248,303149,6391,109,878955,769
2023-01-24$240.69$235.0032.3%9.9%30.3%45.6%35.0%4.9%-1.6%114.5M-1.88B-72.2M0.998.44N/AN/A289,222286,6191,218,0001,004,168
2023-01-25$240.13$235.0025.9%7.8%30.3%18.6%27.6%4.1%-0.5%51.9M-1.17B-70.9M0.913.40N/AN/A581,602527,6541,338,3591,140,078
2023-01-26$246.57$235.0025.4%7.6%31.6%16.9%27.4%4.0%-0.2%367.7M-4.73B-73.2M1.032.38N/AN/A274,877283,8771,385,2951,185,838
2023-01-27$248.75$235.0024.5%7.6%31.3%13.2%27.3%4.0%-0.2%324.9M-5.45B-74.7M0.853.69N/AN/A241,676204,5251,399,2891,279,072
2023-01-30$243.25$235.0025.9%8.2%30.9%18.8%28.8%4.5%0.0%31.0M-1.68B-75.1M0.996.90N/AN/A145,018143,0931,223,6211,147,397
2023-01-31$246.75$240.0026.2%8.1%30.9%20.3%28.9%4.1%-0.7%139.2M-3.35B-76.6M0.748.40N/AN/A98,43772,8741,253,3061,167,271