MSFT Options History — August 2023

In August 2023, MSFT traded between $316.29 and $336.86. ATM implied volatility averaged 24.4%, placing in the 24.6% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded below realized volatility by 1.1% (HV 20d: 25.5%). Max pain ranged from $300.00 to $330.00. Net GEX was positive for 21 of 23 trading days. Term structure was in contango for 16 of 23 days. Put/call ratio averaged 0.71.

Notable Days

  • 2023-08-04: Highest Volume — 538,651 contracts
  • 2023-08-25: Largest IV drop — 9.8% change
  • 2023-08-17: Highest IV Rank — 30.9%
  • 2023-08-17: Largest Expected Move — 7.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$324.64$316.29$336.86$336.86$328.76
Max Pain$308.91$300.00$330.00$330.00$315.00
ATM IV24.4%21.1%26.0%23.9%21.1%
Expected Move7.0%5.9%7.4%6.8%5.9%
HV 20d25.5%15.9%32.7%31.2%15.9%
HV 60d26.0%25.0%26.7%26.3%25.5%
IV Rank24.6%11.2%30.9%22.5%11.2%
IV Percentile20.9%7.5%28.2%19.0%7.5%
Term Structure0.1%-0.6%0.4%-0.3%0.3%
VWIV24.8%21.2%26.3%24.6%21.2%
Skew 25d2.5%1.1%3.1%1.1%1.9%
Skew 10d4.8%2.2%5.8%2.2%3.9%
Call IV 25d23.6%20.5%25.3%24.0%20.5%
Put IV 25d26.1%22.4%27.6%25.1%22.4%
Bid-Ask Spread %1.991.442.821.561.44
Gamma HHI0.040.030.050.050.05
Net GEX193.2M-146.0M505.6M505.6M478.9M
Net DEX-9.21B-15.03B-4.20B-15.03B-13.35B
Net VEX-113.6M-117.9M-110.6M-117.9M-111.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.710.331.540.700.61
Total Volume331,047.217212,375538,651278,387301,509
Total OI3,070,286.7832,757,5263,253,2353,095,5933,020,066

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-08-01$336.86$330.0023.9%6.8%31.2%22.5%24.6%1.1%-0.3%505.6M-15.03B-117.9M0.701.56N/AN/A163,571114,8161,651,5771,444,016
2023-08-02$327.74$330.0025.5%7.4%32.7%29.0%26.3%2.2%-0.5%107.9M-9.07B-116.7M0.762.17N/AN/A240,819182,8861,673,9621,462,352
2023-08-03$327.25$300.0025.8%7.3%32.5%30.2%26.1%2.2%-0.6%81.4M-9.02B-117.6M0.602.05N/AN/A184,540111,2931,701,6861,478,860
2023-08-04$327.83$300.0025.0%7.2%32.5%26.8%25.6%2.1%-0.4%160.5M-9.49B-116.6M0.722.53N/AN/A313,602225,0491,734,8951,489,143
2023-08-07$329.52$300.0024.2%7.0%31.6%23.6%25.4%2.2%0.4%262.6M-10.96B-114.7M0.602.02N/AN/A144,77686,3811,617,0071,440,956
2023-08-08$325.98$300.0025.1%7.2%31.8%27.2%25.6%2.9%0.1%160.8M-8.77B-114.6M0.722.82N/AN/A196,135141,6091,639,3831,463,269
2023-08-09$323.76$300.0024.9%7.2%31.0%26.5%25.5%3.0%0.2%107.4M-7.57B-114.7M0.652.16N/AN/A156,841101,6571,665,7531,489,705
2023-08-10$322.40$300.0025.2%7.2%30.2%27.8%24.8%3.0%-0.0%36.1M-6.73B-112.0M0.622.52N/AN/A244,015150,7191,677,2911,498,608
2023-08-11$321.07$305.0024.5%7.1%30.0%24.9%24.7%2.5%0.3%-69.7M-5.73B-112.6M0.672.14N/AN/A249,944167,0261,719,6101,533,625
2023-08-14$323.26$305.0024.4%7.0%30.2%24.5%24.8%1.7%0.0%133.2M-7.99B-110.8M0.431.71N/AN/A212,73792,2191,665,7971,476,737
2023-08-15$321.38$305.0025.5%7.3%24.7%28.9%25.6%2.1%0.1%73.4M-6.79B-113.4M0.332.03N/AN/A279,90792,8541,700,4481,504,215
2023-08-16$321.20$310.0025.5%7.3%24.5%29.1%26.0%2.4%0.1%64.4M-5.73B-113.2M1.542.61N/AN/A149,283230,0651,679,6741,521,154
2023-08-17$316.29$305.0026.0%7.4%23.7%30.9%25.9%2.8%0.1%-146.0M-4.20B-110.6M1.002.25N/AN/A198,778198,6311,701,9311,489,629
2023-08-18$317.71$305.0025.0%7.1%23.7%26.9%26.2%3.0%0.3%7.0M-5.56B-111.6M0.602.55N/AN/A290,413174,7031,717,7631,479,755
2023-08-21$322.46$310.0025.0%7.1%24.2%27.1%25.2%2.9%0.0%248.1M-9.60B-112.2M0.711.46N/AN/A168,239119,2551,456,2991,301,227
2023-08-22$321.64$310.0025.6%7.2%23.1%29.2%25.6%2.9%-0.0%242.2M-9.32B-114.3M0.791.74N/AN/A123,06397,3761,499,3661,347,415
2023-08-23$327.71$310.0024.4%7.1%20.9%24.7%25.0%2.7%-0.0%443.0M-12.81B-115.0M0.481.98N/AN/A232,274110,9751,522,3031,374,485
2023-08-24$320.55$310.0025.4%7.3%20.7%28.5%25.7%3.1%0.1%162.8M-8.03B-115.0M0.661.56N/AN/A172,428114,1111,577,2621,401,401
2023-08-25$323.39$312.5022.9%6.5%18.3%18.4%23.0%2.6%0.3%275.2M-9.82B-113.7M0.891.91N/AN/A191,565170,0581,601,3241,419,518
2023-08-28$323.37$312.5023.0%6.5%18.0%18.8%23.2%2.9%0.3%234.9M-10.03B-111.9M0.791.63N/AN/A118,48393,8921,504,0711,363,972
2023-08-29$327.98$315.0022.2%6.2%18.7%15.6%22.3%2.1%0.2%412.3M-12.91B-111.6M0.691.47N/AN/A169,826116,5201,525,6391,390,101
2023-08-30$328.68$315.0021.6%6.0%15.9%13.1%21.5%2.1%0.3%460.6M-13.30B-112.0M0.771.48N/AN/A123,73095,5131,574,2911,419,055
2023-08-31$328.76$315.0021.1%5.9%15.9%11.2%21.2%1.9%0.3%478.9M-13.35B-111.1M0.611.44N/AN/A187,790113,7191,591,3901,428,676