MSFT Options History — July 2023

In July 2023, MSFT traded between $329.37 and $360.64. ATM implied volatility averaged 29.3%, placing in the 44.2% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded above realized volatility by 2.7% (HV 20d: 26.6%). Max pain ranged from $310.00 to $330.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 0.58.

Notable Days

  • 2023-07-18: Highest Volume — 1,290,227 contracts
  • 2023-07-26: Largest IV drop — 25.1% change
  • 2023-07-20: Highest IV Rank — 60.1%
  • 2023-07-24: Largest Expected Move — 10.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$341.35$329.37$360.64$337.46$334.56
Max Pain$321.25$310.00$330.00$315.00$330.00
ATM IV29.3%23.0%33.2%27.7%23.7%
Expected Move8.1%6.0%10.0%6.0%6.9%
HV 20d26.6%21.8%32.0%26.5%31.3%
HV 60d26.1%23.7%28.0%26.6%26.3%
IV Rank44.2%19.0%60.1%37.7%21.6%
IV Percentile54.4%17.1%82.9%37.7%18.7%
Term Structure-1.2%-2.2%0.2%-0.8%0.1%
VWIV29.1%21.4%36.2%21.4%25.0%
Skew 25d1.1%-0.9%2.4%2.2%1.6%
Skew 10d2.4%-1.5%5.4%5.0%3.0%
Call IV 25d29.3%23.3%34.2%26.5%23.9%
Put IV 25d30.4%24.3%34.3%28.7%25.5%
Bid-Ask Spread %2.451.243.341.443.12
Gamma HHI0.060.040.180.060.05
Net GEX627.1M25.2M1.20B628.1M403.2M
Net DEX-20.43B-33.21B-9.20B-20.21B-13.63B
Net VEX-110.9M-117.5M-105.4M-108.0M-114.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.580.430.760.600.64
Total Volume540,480.6160,7131,290,227160,713367,659
Total OI2,997,559.752,718,5463,348,5612,718,5462,992,101

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-07-03$337.46$315.0027.7%6.0%26.5%37.7%21.4%2.2%-0.8%628.1M-20.21B-108.0M0.601.44N/AN/A100,43960,2741,425,3601,293,186
2023-07-05$338.24$315.0027.8%6.2%26.4%38.2%22.5%1.9%-1.0%692.8M-20.70B-106.0M0.731.24N/AN/A132,57096,6791,446,5891,313,267
2023-07-06$340.75$310.0029.2%7.9%26.3%43.8%27.8%1.9%-1.2%794.3M-22.25B-108.5M0.482.92N/AN/A298,364144,5131,474,7981,336,384
2023-07-07$338.14$310.0028.4%7.7%23.1%40.4%27.7%1.9%-1.1%601.6M-20.76B-107.4M0.523.09N/AN/A277,126143,8221,513,6451,353,880
2023-07-10$330.61$315.0030.6%8.4%24.6%49.5%29.4%2.4%-1.1%438.5M-16.13B-107.2M0.542.75N/AN/A281,309152,0371,477,0171,331,971
2023-07-11$331.52$315.0030.4%8.3%24.5%48.6%29.3%2.3%-1.2%502.0M-16.82B-108.2M0.432.27N/AN/A203,99888,5841,524,3101,380,994
2023-07-12$337.58$315.0029.6%8.1%25.0%45.3%28.7%1.9%-1.5%784.2M-21.04B-107.8M0.542.58N/AN/A293,681157,1981,552,1141,404,471
2023-07-13$343.54$315.0030.0%8.2%25.6%47.2%29.1%1.8%-1.6%1.01B-24.67B-108.2M0.582.31N/AN/A261,052151,7311,566,6511,429,910
2023-07-14$344.86$320.0029.9%8.2%25.5%46.6%29.1%1.3%-1.8%1.20B-25.28B-108.8M0.462.84N/AN/A497,141229,8341,579,2801,455,423
2023-07-17$345.38$320.0030.4%8.6%21.8%48.9%30.5%1.7%-1.3%709.7M-24.12B-109.3M0.552.66N/AN/A145,31580,0811,517,4711,409,716
2023-07-18$360.64$320.0032.0%9.1%26.1%55.2%32.7%-0.9%-1.7%903.5M-33.21B-105.4M0.452.63N/AN/A892,029398,1981,546,9221,436,828
2023-07-19$355.38$325.0032.3%9.3%26.0%56.3%33.1%0.0%-1.8%775.2M-29.11B-109.9M0.542.31N/AN/A403,517219,1091,641,5311,532,943
2023-07-20$346.47$325.0033.2%9.6%27.3%60.1%34.1%0.3%-1.9%529.7M-22.86B-113.3M0.532.66N/AN/A342,880180,8421,685,3201,564,363
2023-07-21$341.94$325.0032.5%9.5%27.1%57.3%34.3%-0.3%-2.2%425.8M-19.67B-115.5M0.763.34N/AN/A304,942232,3081,735,5811,596,359
2023-07-24$344.70$330.0033.0%10.0%27.0%59.2%36.2%-0.4%-1.5%503.1M-18.43B-115.0M0.692.26N/AN/A206,491143,2001,478,4281,297,898
2023-07-25$350.22$330.0032.7%10.0%26.2%57.8%35.6%-0.6%-1.5%612.5M-21.15B-117.2M0.572.25N/AN/A396,695227,9351,551,3041,363,680
2023-07-26$337.31$330.0024.5%7.1%29.2%24.8%25.8%0.5%-0.2%261.6M-13.05B-114.6M0.602.03N/AN/A773,813466,2721,684,3711,455,456
2023-07-27$329.37$330.0025.1%7.3%30.5%27.2%26.2%1.4%-0.1%25.2M-9.20B-116.1M0.632.42N/AN/A476,582301,8871,771,0611,482,051
2023-07-28$338.25$330.0023.0%6.6%32.0%19.0%23.7%1.0%0.2%743.0M-16.26B-117.5M0.661.95N/AN/A410,010269,4951,843,3791,505,182
2023-07-31$334.56$330.0023.7%6.9%31.3%21.6%25.0%1.6%0.1%403.2M-13.63B-114.0M0.643.12N/AN/A224,137143,5221,600,5221,391,579