MSFT Options History — April 2023

In April 2023, MSFT traded between $276.12 and $306.07. ATM implied volatility averaged 28.0%, placing in the 27.7% IV rank vs the trailing year. The 30-day expected move averaged 7.7%. IV traded above realized volatility by 3.1% (HV 20d: 24.9%). Max pain ranged from $260.00 to $282.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 0.73.

Notable Days

  • 2023-04-26: Highest Volume — 1,044,155 contracts
  • 2023-04-26: Largest IV drop — 20.8% change
  • 2023-04-25: Highest IV Rank — 38.7%
  • 2023-04-25: Largest Expected Move — 9.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$288.42$276.12$306.07$286.98$306.07
Max Pain$271.18$260.00$282.50$260.00$282.50
ATM IV28.0%21.2%30.6%29.4%21.2%
Expected Move7.7%6.1%9.2%6.7%6.1%
HV 20d24.9%19.9%32.8%26.6%32.7%
HV 60d27.7%26.8%30.4%27.1%29.9%
IV Rank27.7%0.0%38.7%33.8%0.0%
IV Percentile24.9%0.0%47.6%30.6%0.0%
Term Structure-0.7%-1.2%0.2%-1.2%-0.8%
VWIV27.5%21.7%31.8%24.9%21.7%
Skew 25d4.9%3.9%5.5%5.0%3.9%
Skew 10d9.8%8.8%10.7%9.8%8.8%
Call IV 25d25.8%19.4%28.2%26.9%19.4%
Put IV 25d30.7%23.3%33.1%31.9%23.3%
Bid-Ask Spread %3.152.146.362.452.73
Gamma HHI0.070.040.100.070.10
Net GEX509.4M139.1M932.5M510.6M834.0M
Net DEX-13.79B-19.89B-5.49B-14.52B-19.89B
Net VEX-96.1M-101.2M-92.5M-97.5M-101.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.730.510.910.870.82
Total Volume428,405.316231,4971,044,155301,778824,014
Total OI2,772,191.7892,395,7712,980,1942,706,0062,980,194

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-04-03$286.98$260.0029.4%6.7%26.6%33.8%24.9%5.0%-1.2%510.6M-14.52B-97.5M0.872.45N/AN/A161,326140,4521,428,6021,277,404
2023-04-04$286.02$260.0029.9%7.0%26.0%35.9%24.5%5.5%0.2%525.9M-14.03B-99.0M0.753.13N/AN/A192,996145,2451,456,8191,296,176
2023-04-05$284.45$260.0029.5%6.7%26.2%34.2%24.1%5.1%-0.4%427.5M-12.85B-98.7M0.912.43N/AN/A120,934110,5631,469,1431,317,288
2023-04-06$291.80$270.0029.6%8.2%26.7%34.5%29.6%4.5%-0.9%718.4M-17.42B-98.8M0.686.36N/AN/A325,852222,8901,480,3251,326,433
2023-04-10$288.64$270.0030.4%8.4%25.9%37.7%30.4%4.8%-1.1%506.1M-14.74B-98.0M0.634.77N/AN/A181,692114,2241,452,1131,291,173
2023-04-11$282.70$270.0030.2%8.4%26.1%37.0%29.8%5.0%-0.9%359.5M-11.60B-96.8M0.594.51N/AN/A223,476130,8881,471,7351,300,920
2023-04-12$283.94$270.0029.9%8.3%25.9%35.8%28.6%4.8%-1.0%449.4M-12.32B-97.0M0.632.84N/AN/A243,795154,4751,509,4331,321,423
2023-04-13$289.49$270.0028.6%8.0%25.7%30.5%28.5%4.4%-1.0%689.6M-15.44B-96.3M0.792.77N/AN/A177,040139,1411,512,2901,351,216
2023-04-14$286.20$270.0027.9%8.0%22.2%27.5%27.9%4.4%0.2%315.1M-13.14B-94.7M0.712.68N/AN/A257,403181,9021,519,2521,377,989
2023-04-17$288.11$270.0027.8%7.9%22.2%26.9%28.0%5.3%-0.8%499.1M-14.01B-93.3M0.512.77N/AN/A223,127114,8351,440,3401,303,298
2023-04-18$288.06$270.0027.4%7.8%20.0%25.4%28.1%4.9%-0.7%497.0M-13.92B-93.6M0.602.36N/AN/A159,27796,2961,473,3201,331,170
2023-04-19$288.44$275.0027.6%7.9%19.9%26.2%28.4%4.8%-0.9%514.3M-14.16B-93.3M0.702.74N/AN/A139,83297,2471,492,5431,356,848
2023-04-20$285.59$275.0028.6%8.3%20.3%30.2%28.8%4.9%-1.0%380.1M-12.70B-93.9M0.604.93N/AN/A171,330102,9971,510,7791,365,264
2023-04-21$285.27$275.0027.4%7.9%20.2%25.1%27.9%4.9%-1.1%436.7M-12.56B-93.9M0.702.31N/AN/A175,825122,7271,536,9541,384,522
2023-04-24$281.63$275.0028.6%8.6%20.6%30.5%29.9%4.7%-0.9%247.3M-8.01B-92.5M0.912.18N/AN/A149,423136,2271,255,2381,140,533
2023-04-25$276.12$275.0030.6%9.2%21.4%38.7%31.8%5.3%-1.2%139.1M-5.49B-93.0M0.913.14N/AN/A266,686243,7261,281,7311,188,538
2023-04-26$295.75$275.0024.2%7.0%32.2%12.0%25.3%5.1%-0.4%697.2M-15.36B-95.6M0.722.14N/AN/A607,448436,7071,378,9531,277,617
2023-04-27$304.72$280.0022.4%6.5%32.8%4.3%23.4%4.8%-0.3%932.5M-19.88B-97.9M0.882.54N/AN/A449,815397,8681,444,9461,369,122
2023-04-28$306.07$282.5021.2%6.1%32.7%0.0%21.7%3.9%-0.8%834.0M-19.89B-101.2M0.822.73N/AN/A451,770372,2441,487,2171,492,977