MSFT Options History — November 2023

In November 2023, MSFT traded between $346.87 and $380.96. ATM implied volatility averaged 19.6%, placing in the 6.5% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded below realized volatility by 4.2% (HV 20d: 23.8%). Max pain ranged from $325.00 to $350.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 0.68.

Notable Days

  • 2023-11-20: Highest Volume — 744,670 contracts
  • 2023-11-02: Largest IV drop — 7.9% change
  • 2023-11-01: Highest IV Rank — 19.8%
  • 2023-11-01: Largest Expected Move — 6.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$368.11$346.87$380.96$346.87$376.98
Max Pain$337.86$325.00$350.00$330.00$350.00
ATM IV19.6%18.1%22.4%22.4%18.3%
Expected Move5.7%5.2%6.6%6.6%5.3%
HV 20d23.8%19.2%26.9%25.3%19.2%
HV 60d22.3%21.7%22.7%21.8%22.5%
IV Rank6.5%0.0%19.8%19.8%1.0%
IV Percentile5.1%0.0%18.7%18.7%1.2%
Term Structure0.2%-0.4%0.6%0.3%0.1%
VWIV20.7%19.1%23.7%23.7%19.3%
Skew 25d2.4%1.3%3.8%3.8%1.9%
Skew 10d5.1%2.8%7.8%7.8%3.7%
Call IV 25d18.6%17.2%20.4%20.4%17.4%
Put IV 25d21.0%19.1%24.2%24.2%19.3%
Bid-Ask Spread %2.681.726.112.292.10
Gamma HHI0.090.070.180.070.07
Net GEX1.12B856.2M1.58B939.0M856.2M
Net DEX-26.49B-31.03B-19.39B-19.39B-26.34B
Net VEX-101.1M-107.9M-96.8M-101.8M-107.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.330.980.770.73
Total Volume448,126.952213,037744,670450,748325,650
Total OI2,848,631.1432,676,7253,023,3752,703,2073,023,375

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-11-01$346.87$330.0022.4%6.6%25.3%19.8%23.7%3.8%0.3%939.0M-19.39B-101.8M0.772.29N/AN/A255,280195,4681,401,6191,301,588
2023-11-02$348.11$325.0020.6%6.1%25.2%11.2%22.3%3.7%0.4%1.03B-20.06B-100.4M0.702.54N/AN/A218,608152,9851,430,5001,342,368
2023-11-03$353.14$325.0019.1%5.7%23.8%3.9%21.0%3.3%0.6%1.12B-23.65B-98.8M0.632.39N/AN/A330,575209,6591,447,8611,370,290
2023-11-06$355.24$330.0019.6%5.8%23.8%6.5%21.0%3.4%0.4%975.2M-22.43B-96.8M0.542.14N/AN/A247,331134,0601,379,9261,305,694
2023-11-07$361.78$330.0019.6%5.8%24.3%6.4%20.9%2.9%0.5%1.18B-26.20B-97.6M0.561.97N/AN/A279,085157,2081,419,2821,324,223
2023-11-08$362.46$330.0019.9%5.9%24.3%7.8%21.6%3.1%0.4%1.15B-26.35B-98.5M0.642.80N/AN/A220,019141,5071,443,8941,359,371
2023-11-09$360.91$330.0020.4%6.0%24.4%10.2%21.5%3.1%0.5%1.07B-25.28B-101.4M0.922.72N/AN/A172,062158,3891,502,1081,392,269
2023-11-10$369.49$330.0019.9%5.8%24.5%8.0%21.4%2.1%0.4%1.58B-31.03B-98.4M0.693.33N/AN/A368,861253,6301,504,2361,418,290
2023-11-13$366.80$335.0020.5%5.9%24.6%10.8%20.9%2.3%-0.0%1.06B-27.48B-98.2M0.582.19N/AN/A205,753119,9821,468,2231,350,573
2023-11-14$371.15$335.0020.0%5.7%24.3%8.3%21.0%2.0%0.0%1.24B-30.28B-98.7M0.333.25N/AN/A441,377147,7371,519,8341,380,723
2023-11-15$369.81$335.0019.5%5.6%24.1%6.0%20.8%2.3%0.2%1.22B-25.67B-100.4M0.762.14N/AN/A204,017154,1821,452,0681,421,634
2023-11-16$375.59$335.0019.5%5.6%24.4%5.7%20.1%1.8%0.2%1.48B-29.75B-99.4M0.502.87N/AN/A442,487221,0501,483,2441,456,597
2023-11-17$368.54$340.0020.2%5.8%25.0%9.4%20.5%2.5%-0.0%1.06B-24.05B-103.5M0.596.11N/AN/A411,383241,6521,515,4241,499,206
2023-11-20$377.86$340.0020.4%5.9%25.9%10.0%21.3%1.3%-0.4%1.12B-29.27B-100.9M0.592.61N/AN/A469,314275,3561,408,5051,268,220
2023-11-21$372.55$345.0020.0%5.8%26.9%8.0%21.1%1.8%-0.3%969.0M-25.90B-104.6M0.702.81N/AN/A265,230185,5071,481,0831,330,841
2023-11-22$377.76$350.0018.6%5.3%26.2%1.3%19.5%1.6%-0.1%1.43B-29.38B-104.2M0.782.92N/AN/A262,910205,1211,514,3311,383,994
2023-11-24$376.54$350.0018.4%5.2%21.3%0.5%19.3%1.7%-0.1%947.1M-27.88B-104.3M0.811.98N/AN/A117,63595,4021,513,1461,423,569
2023-11-27$378.88$350.0018.1%5.2%21.2%0.0%19.1%1.7%0.2%1.04B-28.68B-100.0M0.982.69N/AN/A130,737128,4171,436,1541,350,943
2023-11-28$380.96$350.0018.1%5.2%20.1%0.2%19.1%1.9%0.4%1.11B-29.54B-102.4M0.721.72N/AN/A244,005175,9931,454,4501,398,185
2023-11-29$378.97$350.0018.2%5.3%20.4%0.6%19.3%1.9%0.3%987.3M-27.78B-105.3M0.662.70N/AN/A268,765176,2771,500,3401,443,073
2023-11-30$376.98$350.0018.3%5.3%19.2%1.0%19.3%1.9%0.1%856.2M-26.34B-107.9M0.732.10N/AN/A188,719136,9311,546,3761,476,999