MSFT Options History — February 2023

In February 2023, MSFT traded between $248.62 and $273.22. ATM implied volatility averaged 28.0%, placing in the 27.7% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded below realized volatility by 2.4% (HV 20d: 30.4%). Max pain ranged from $240.00 to $250.00. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.71.

Notable Days

  • 2023-02-08: Highest Volume — 940,518 contracts
  • 2023-02-08: Largest IV spike — 9.9% change
  • 2023-02-22: Highest IV Rank — 38.0%
  • 2023-02-21: Largest Expected Move — 8.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$259.50$248.62$273.22$254.05$249.36
Max Pain$246.84$240.00$250.00$240.00$250.00
ATM IV28.0%23.6%30.4%23.6%28.4%
Expected Move8.1%7.3%8.7%7.4%8.2%
HV 20d30.4%25.8%33.2%32.5%32.1%
HV 60d31.5%29.9%33.5%33.0%29.9%
IV Rank27.7%9.1%38.0%9.1%29.7%
IV Percentile22.5%2.4%38.5%2.4%25.0%
Term Structure-0.1%-0.8%0.5%0.1%-0.4%
VWIV28.7%26.2%30.8%27.1%28.4%
Skew 25d3.5%2.1%4.4%4.1%4.2%
Skew 10d6.8%4.3%8.3%8.3%8.0%
Call IV 25d26.7%22.2%29.1%22.2%26.5%
Put IV 25d30.1%26.3%32.8%26.3%30.7%
Bid-Ask Spread %2.822.075.445.442.98
Gamma HHI0.060.030.140.080.03
Net GEX253.4M-80.6M548.7M347.8M62.2M
Net DEX-6.98B-13.89B-772.0M-6.91B-1.80B
Net VEX-86.0M-89.6M-76.0M-76.0M-86.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.710.421.190.760.52
Total Volume451,110.947187,799940,518325,012187,799
Total OI2,646,547.3682,463,4732,834,7372,463,4732,639,353

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-02-01$254.05$240.0023.6%7.4%32.5%9.1%27.1%4.1%0.1%347.8M-6.91B-76.0M0.765.44N/AN/A184,441140,5711,279,7471,183,726
2023-02-02$262.06$240.0025.2%7.3%26.1%15.9%26.2%2.4%0.0%463.7M-10.92B-78.8M0.684.69N/AN/A366,176250,7181,299,8001,198,410
2023-02-03$257.70$245.0025.9%7.5%25.8%18.9%27.3%3.2%-0.0%174.2M-8.00B-81.7M0.742.87N/AN/A284,837210,6631,333,8081,259,858
2023-02-06$256.78$245.0026.8%7.7%25.9%22.9%27.5%2.9%-0.0%263.2M-6.93B-81.5M0.802.31N/AN/A128,820102,5531,296,1961,180,191
2023-02-07$267.64$245.0025.7%7.5%28.7%18.2%27.5%2.1%0.3%506.6M-12.21B-83.0M0.502.75N/AN/A512,792256,3591,330,8231,197,210
2023-02-08$267.35$245.0028.3%8.2%28.9%28.9%28.8%2.5%0.2%505.3M-12.10B-86.8M0.552.35N/AN/A605,172335,3461,410,6611,251,973
2023-02-09$263.83$245.0029.9%8.7%28.9%36.0%30.5%3.2%0.4%349.4M-9.69B-88.9M0.612.33N/AN/A354,180216,4101,492,2641,292,140
2023-02-10$262.73$245.0029.2%8.5%29.0%32.8%30.2%3.5%0.5%312.8M-8.87B-88.5M1.192.11N/AN/A203,391242,8661,517,8131,316,924
2023-02-13$271.06$245.0030.2%8.7%30.4%36.9%30.8%3.1%-0.1%474.0M-12.82B-89.1M0.562.21N/AN/A418,428233,3611,431,9641,245,533
2023-02-14$273.22$245.0027.3%7.8%30.4%24.9%28.2%3.2%0.4%548.7M-13.89B-89.4M0.422.47N/AN/A444,618187,6101,505,5721,297,656
2023-02-15$268.26$250.0026.9%7.7%30.8%23.0%28.9%3.0%0.4%392.2M-8.76B-89.6M0.944.15N/AN/A192,383180,8781,434,2601,324,709
2023-02-16$262.31$250.0028.3%8.1%31.7%29.2%28.7%3.6%0.4%148.1M-5.65B-89.6M0.792.08N/AN/A201,865159,0771,464,0431,356,560
2023-02-17$257.33$250.0028.0%8.0%31.9%27.9%28.2%3.7%-0.4%-80.6M-3.27B-88.2M0.872.26N/AN/A250,654218,5651,481,9661,349,936
2023-02-21$252.59$250.0030.2%8.7%32.7%37.0%30.1%4.2%-0.5%50.9M-2.35B-86.7M0.822.56N/AN/A181,811148,4111,351,1931,134,010
2023-02-22$250.73$250.0030.4%8.6%32.7%38.0%29.9%4.2%-0.7%41.9M-1.69B-87.1M0.682.21N/AN/A163,642111,2881,396,4201,169,332
2023-02-23$254.88$250.0028.7%8.1%33.0%30.8%28.7%4.1%-0.5%183.7M-3.87B-88.4M0.562.07N/AN/A216,683122,2911,441,7791,176,436
2023-02-24$248.62$250.0029.5%8.5%33.2%34.0%29.7%4.4%-0.5%-1.4M-772.0M-87.1M0.742.51N/AN/A186,903138,5091,464,8241,196,115
2023-02-27$249.93$250.0029.2%8.4%33.1%32.7%29.1%4.3%-0.8%72.4M-2.12B-86.9M0.753.20N/AN/A131,94799,0901,401,6291,179,566
2023-02-28$249.36$250.0028.4%8.2%32.1%29.7%28.4%4.2%-0.4%62.2M-1.80B-86.6M0.522.98N/AN/A123,46664,3331,434,5211,204,832