MSFT Options History — December 2023

In December 2023, MSFT traded between $365.94 and $376.18. ATM implied volatility averaged 20.4%, placing in the 11.9% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded above realized volatility by 3.8% (HV 20d: 16.5%). Max pain ranged from $325.00 to $350.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 0.55.

Notable Days

  • 2023-12-14: Highest Volume — 651,831 contracts
  • 2023-12-26: Largest IV spike — 16.6% change
  • 2023-12-29: Highest IV Rank — 34.7%
  • 2023-12-05: Largest Expected Move — 5.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$372.26$365.94$376.18$374.33$376.06
Max Pain$334.50$325.00$350.00$350.00$340.00
ATM IV20.4%17.8%25.1%18.0%25.1%
Expected Move5.5%5.1%5.8%5.3%5.1%
HV 20d16.5%12.3%20.2%19.6%12.4%
HV 60d21.5%19.6%22.7%22.5%19.6%
IV Rank11.9%0.0%34.7%0.0%34.7%
IV Percentile15.2%0.0%46.8%0.0%46.8%
Term Structure1.8%-0.0%5.6%0.1%1.6%
VWIV19.5%18.2%20.5%19.1%18.2%
Skew 25d1.5%0.8%2.2%1.7%1.9%
Skew 10d3.3%1.5%4.6%3.1%4.0%
Call IV 25d19.8%17.3%24.3%17.5%23.7%
Put IV 25d21.3%18.8%26.5%19.2%25.6%
Bid-Ask Spread %2.291.433.312.821.43
Gamma HHI0.080.060.190.060.12
Net GEX875.6M499.6M1.35B499.6M1.28B
Net DEX-22.48B-25.20B-18.88B-24.22B-23.83B
Net VEX-107.2M-110.6M-103.8M-107.7M-103.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.550.330.910.610.47
Total Volume351,143.55197,522651,831591,969393,835
Total OI3,005,904.952,770,9753,310,9873,062,1882,970,068

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-12-01$374.33$350.0018.0%5.3%19.6%0.0%19.1%1.7%0.1%499.6M-24.22B-107.7M0.612.82N/AN/A367,019224,9501,562,2761,499,912
2023-12-04$368.93$325.0019.4%5.7%20.2%6.4%20.4%2.0%0.4%588.8M-20.61B-108.8M0.563.04N/AN/A293,168164,4951,477,6081,454,173
2023-12-05$371.91$325.0019.7%5.8%20.2%8.0%20.4%1.7%0.4%863.4M-23.21B-109.6M0.493.01N/AN/A207,361100,8091,534,0461,480,375
2023-12-06$369.09$330.0019.2%5.7%19.6%5.6%20.0%1.7%0.5%712.2M-21.40B-110.6M0.533.02N/AN/A184,51097,1001,561,2741,511,062
2023-12-07$370.89$330.0019.2%5.6%19.6%5.8%20.0%1.7%0.5%834.2M-22.82B-110.5M0.763.31N/AN/A170,230129,4841,589,2351,528,089
2023-12-08$373.58$330.0017.8%5.3%19.6%0.0%18.9%1.5%0.6%978.5M-25.20B-108.0M0.912.28N/AN/A168,968154,4491,604,2231,549,115
2023-12-11$370.21$330.0018.9%5.5%18.2%5.2%19.3%1.8%0.0%744.1M-22.16B-106.9M0.562.06N/AN/A184,561103,4811,527,9861,506,742
2023-12-12$373.27$330.0017.8%5.2%18.2%0.0%18.5%1.3%0.1%923.9M-25.01B-104.5M0.722.12N/AN/A127,26991,4031,549,4621,525,248
2023-12-13$372.00$330.0018.9%5.4%17.8%5.3%19.2%1.0%-0.0%868.9M-23.93B-105.3M0.542.39N/AN/A245,992133,7901,560,1101,532,822
2023-12-14$365.94$330.0020.0%5.7%18.7%10.6%20.5%0.9%-0.0%518.3M-18.88B-107.0M0.472.48N/AN/A442,632209,1991,593,1441,573,168
2023-12-15$370.49$335.0018.7%5.4%18.4%4.2%19.1%0.8%0.2%903.9M-23.41B-107.9M0.602.55N/AN/A298,892178,7021,678,5821,632,405
2023-12-18$372.37$335.0019.2%5.5%17.1%6.6%19.3%1.2%5.1%760.5M-20.94B-106.4M0.551.76N/AN/A192,842105,6211,391,4221,379,553
2023-12-19$372.41$335.0019.4%5.6%14.5%7.5%19.7%1.0%5.2%808.2M-21.22B-107.4M0.481.95N/AN/A174,22583,2841,436,3971,420,777
2023-12-20$372.01$335.0019.8%5.7%13.6%9.4%20.0%1.4%5.3%867.7M-21.13B-108.5M0.332.98N/AN/A324,202106,3531,468,5501,433,316
2023-12-21$373.13$340.0020.9%5.7%12.6%14.7%20.0%1.6%5.5%910.4M-21.55B-108.2M0.342.02N/AN/A214,33572,2721,482,5571,451,384
2023-12-22$374.35$340.0021.1%5.5%12.7%15.8%19.5%1.6%5.6%1.35B-22.60B-108.1M0.532.01N/AN/A261,728137,4981,506,4631,462,706
2023-12-26$374.74$340.0024.6%5.5%12.5%32.5%19.7%2.2%1.3%879.0M-22.26B-105.6M0.521.62N/AN/A166,19387,2371,433,0471,406,499
2023-12-27$373.32$340.0024.5%5.4%12.3%31.9%19.1%2.0%1.5%913.5M-21.42B-104.6M0.541.57N/AN/A128,66568,8571,472,1671,434,339
2023-12-28$376.18$340.0024.8%5.2%12.6%33.4%18.6%2.1%1.6%1.31B-23.82B-104.2M0.491.45N/AN/A152,81074,4501,488,3731,449,424
2023-12-29$376.06$340.0025.1%5.1%12.4%34.7%18.2%1.9%1.6%1.28B-23.83B-103.8M0.471.43N/AN/A267,652126,1831,504,3781,465,690