MSFT Options History — June 2023

In June 2023, MSFT traded between $322.76 and $348.77. ATM implied volatility averaged 22.3%, placing in the 15.8% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded below realized volatility by 2.1% (HV 20d: 24.4%). Max pain ranged from $290.00 to $315.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.58.

Notable Days

  • 2023-06-15: Highest Volume — 818,644 contracts
  • 2023-06-26: Largest IV spike — 14.2% change
  • 2023-06-28: Highest IV Rank — 39.0%
  • 2023-06-15: Largest Expected Move — 6.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$334.80$322.76$348.77$332.08$341.01
Max Pain$307.62$290.00$315.00$290.00$315.00
ATM IV22.3%18.3%28.0%21.4%27.2%
Expected Move6.0%5.4%6.4%6.2%5.8%
HV 20d24.4%20.2%27.9%20.7%26.4%
HV 60d26.0%24.5%26.6%26.4%26.5%
IV Rank15.8%0.0%39.0%11.4%35.6%
IV Percentile12.8%0.0%39.3%5.6%32.9%
Term Structure0.8%-0.9%5.6%-0.4%-0.8%
VWIV21.6%19.8%23.7%22.4%21.0%
Skew 25d2.0%0.5%3.0%2.4%2.0%
Skew 10d4.5%2.1%6.9%5.2%4.7%
Call IV 25d21.7%17.6%27.4%20.7%26.6%
Put IV 25d23.7%19.9%29.9%23.0%28.6%
Bid-Ask Spread %2.791.673.912.522.43
Gamma HHI0.070.050.160.070.11
Net GEX726.7M444.4M1.08B801.6M1.01B
Net DEX-23.08B-33.89B-15.85B-25.43B-23.45B
Net VEX-106.2M-111.2M-99.1M-103.8M-108.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.580.450.840.610.45
Total Volume329,679.762224,675818,644301,874430,919
Total OI2,923,106.6192,602,7743,330,7372,981,6442,846,897

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-06-01$332.08$290.0021.4%6.2%20.7%11.4%22.4%2.4%-0.4%801.6M-25.43B-103.8M0.612.52N/AN/A187,665114,2091,525,2981,456,346
2023-06-02$335.58$290.0020.1%5.8%20.8%5.9%20.8%2.0%-0.3%1.08B-27.67B-101.9M0.482.84N/AN/A263,989126,8051,537,7471,474,235
2023-06-05$337.18$300.0019.7%5.8%20.2%4.2%20.8%2.3%0.4%785.0M-27.19B-99.1M0.842.60N/AN/A129,491108,9511,479,8321,411,016
2023-06-06$333.89$305.0018.3%5.4%20.3%0.0%19.8%2.2%0.3%735.7M-25.23B-100.6M0.792.58N/AN/A130,254103,3761,500,4081,439,030
2023-06-07$322.76$305.0020.1%5.8%24.1%7.0%20.3%2.6%0.1%496.9M-18.76B-103.1M0.672.94N/AN/A211,299142,5241,518,4311,466,479
2023-06-08$325.58$305.0019.3%5.6%23.4%3.9%20.4%2.3%0.3%709.3M-20.68B-104.8M0.503.16N/AN/A152,47875,8561,591,1071,508,721
2023-06-09$327.50$305.0019.5%5.7%23.1%4.8%20.3%1.8%0.3%929.2M-22.05B-104.9M0.453.23N/AN/A192,11886,1491,617,2641,521,971
2023-06-12$331.34$310.0020.0%5.8%23.1%6.9%21.0%2.0%0.1%746.5M-24.18B-102.0M0.652.19N/AN/A171,123111,2101,528,5401,488,963
2023-06-13$333.81$310.0020.0%5.7%23.2%6.7%21.4%1.9%-0.0%789.0M-25.80B-102.9M0.602.80N/AN/A185,537111,3811,554,6791,517,719
2023-06-14$336.19$310.0020.6%5.9%23.0%9.0%21.8%1.7%0.1%840.6M-27.37B-103.2M0.693.38N/AN/A198,203135,8921,577,8851,541,425
2023-06-15$348.77$310.0022.2%6.4%25.8%15.6%23.7%0.5%-0.0%907.8M-33.89B-103.5M0.563.91N/AN/A524,593294,0511,597,9081,581,968
2023-06-16$343.83$310.0021.3%6.1%26.4%12.1%22.8%1.0%0.0%657.1M-30.85B-109.3M0.473.10N/AN/A344,820162,2191,670,6331,660,104
2023-06-20$338.46$310.0022.0%6.3%27.3%14.7%22.8%1.6%5.0%566.4M-20.28B-110.9M0.563.40N/AN/A201,490112,8171,364,4011,238,373
2023-06-21$333.74$310.0022.0%6.3%27.9%14.9%22.3%2.2%4.8%506.7M-18.05B-111.2M0.582.93N/AN/A171,87099,2271,416,0611,261,463
2023-06-22$339.46$310.0022.0%6.0%27.7%14.7%22.1%1.6%5.5%755.7M-21.52B-110.6M0.472.90N/AN/A208,76098,7841,436,7891,282,801
2023-06-23$336.19$310.0023.3%6.1%27.8%20.0%21.6%1.8%5.6%650.2M-19.41B-110.7M0.512.76N/AN/A196,199100,2721,460,6251,299,310
2023-06-26$329.39$310.0026.6%6.3%25.8%33.3%22.1%3.0%-0.8%444.4M-15.85B-110.6M0.682.82N/AN/A169,371115,0241,402,3071,268,860
2023-06-27$335.41$315.0027.0%6.1%25.5%34.9%22.7%2.5%-0.8%627.2M-19.47B-110.0M0.532.28N/AN/A198,581105,4791,440,0111,305,190
2023-06-28$334.54$315.0028.0%6.2%25.5%39.0%22.0%2.3%-0.9%625.5M-18.91B-109.7M0.472.13N/AN/A153,21172,4031,465,1331,322,820
2023-06-29$334.15$315.0027.8%6.1%25.4%38.1%21.8%2.1%-0.8%594.1M-18.59B-109.5M0.561.67N/AN/A144,30680,3691,473,3061,333,183
2023-06-30$341.01$315.0027.2%5.8%26.4%35.6%21.0%2.0%-0.8%1.01B-23.45B-108.1M0.452.43N/AN/A297,329133,5901,499,3781,347,519