MSFT Options History — March 2024

In March 2024, MSFT traded between $401.92 and $429.30. ATM implied volatility averaged 20.7%, placing in the 18.7% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded below realized volatility by 0.8% (HV 20d: 21.5%). Max pain ranged from $395.00 to $405.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.61.

Notable Days

  • 2024-03-14: Highest Volume — 959,339 contracts
  • 2024-03-05: Largest IV spike — 12.7% change
  • 2024-03-28: Highest IV Rank — 29.9%
  • 2024-03-05: Largest Expected Move — 6.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$416.86$401.92$429.30$415.81$421.19
Max Pain$402.50$395.00$405.00$395.00$405.00
ATM IV20.7%18.6%22.4%18.6%22.4%
Expected Move5.6%4.9%6.2%5.2%4.9%
HV 20d21.5%19.9%22.9%20.9%21.0%
HV 60d18.8%16.9%19.6%16.9%19.2%
IV Rank18.7%5.4%29.9%5.4%29.9%
IV Percentile30.5%6.0%49.6%6.0%49.6%
Term Structure1.5%-0.1%4.6%0.1%2.5%
VWIV20.1%17.3%21.7%18.8%17.3%
Skew 25d0.9%-0.1%1.6%1.2%1.3%
Skew 10d2.9%1.5%4.1%3.5%2.2%
Call IV 25d20.5%18.0%22.8%18.3%21.5%
Put IV 25d21.5%18.7%23.8%19.5%22.8%
Bid-Ask Spread %4.282.635.922.633.35
Gamma HHI0.080.040.190.160.06
Net GEX694.1M227.6M1.19B1.17B514.5M
Net DEX-23.01B-31.41B-15.25B-25.04B-21.89B
Net VEX-127.2M-132.0M-121.9M-122.0M-126.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.610.470.790.560.55
Total Volume328,540.4154,939959,339361,224198,561
Total OI2,503,498.352,326,7302,794,7122,557,4762,440,278

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-03-01$415.81$395.0018.6%5.2%20.9%5.4%18.8%1.2%0.1%1.17B-25.04B-122.0M0.562.63N/AN/A232,118129,1061,305,5711,251,905
2024-03-04$414.90$400.0019.2%5.6%19.9%9.2%19.9%0.5%0.3%663.4M-23.33B-121.9M0.573.66N/AN/A137,61278,1901,239,3961,193,245
2024-03-05$401.92$400.0021.7%6.2%22.3%25.0%21.6%1.6%0.0%227.6M-15.25B-123.9M0.664.52N/AN/A254,024167,0781,264,9531,213,557
2024-03-06$402.19$405.0021.3%6.1%22.3%22.8%21.3%1.4%-0.0%313.1M-15.84B-129.0M0.624.07N/AN/A202,232126,3361,323,0361,253,077
2024-03-07$409.27$405.0021.1%6.0%21.5%21.3%21.5%0.6%-0.1%680.4M-20.84B-129.8M0.474.97N/AN/A215,880101,7741,346,3111,270,373
2024-03-08$406.08$405.0021.4%6.1%21.6%23.0%21.6%0.8%0.0%467.8M-18.48B-130.4M0.655.11N/AN/A191,218124,4461,361,3781,282,726
2024-03-11$405.04$405.0021.4%6.1%20.7%23.6%21.7%0.8%-0.1%424.0M-17.79B-128.0M0.634.37N/AN/A95,02959,9101,308,8651,240,315
2024-03-12$414.80$405.0020.3%5.8%22.1%15.8%21.0%0.5%-0.0%824.7M-24.92B-124.4M0.683.25N/AN/A206,928139,9031,321,9151,251,134
2024-03-13$415.41$400.0020.3%5.8%20.6%16.1%20.6%0.6%-0.1%823.1M-25.54B-126.9M0.474.56N/AN/A213,989101,5021,349,3891,273,740
2024-03-14$424.31$400.0020.9%6.0%21.8%20.0%21.4%-0.1%-0.1%1.19B-31.41B-126.8M0.505.92N/AN/A638,127321,2121,368,9321,291,870
2024-03-15$416.29$400.0020.8%6.0%22.9%19.6%21.5%0.9%0.0%385.3M-25.14B-132.0M0.535.61N/AN/A441,757232,4291,437,8321,356,880
2024-03-18$419.34$400.0020.4%5.8%22.8%16.7%20.9%1.0%3.7%701.1M-22.75B-131.6M0.613.98N/AN/A141,44086,7921,233,2711,093,459
2024-03-19$420.47$400.0019.7%5.7%22.6%12.4%20.3%1.1%3.7%767.8M-23.37B-126.9M0.793.76N/AN/A124,77298,9361,239,5261,116,987
2024-03-20$424.10$400.0019.1%5.5%22.6%8.2%19.8%0.9%4.3%941.7M-25.51B-127.0M0.634.72N/AN/A152,02596,4491,251,2401,138,921
2024-03-21$429.30$405.0019.6%5.4%20.8%11.3%19.4%0.8%4.3%1.05B-28.00B-126.1M0.664.65N/AN/A224,590149,0071,256,7351,167,459
2024-03-22$428.86$405.0019.7%5.2%20.7%12.3%18.7%0.6%4.6%1.08B-27.45B-127.1M0.673.93N/AN/A172,930116,5081,276,7541,192,263
2024-03-25$423.76$405.0022.0%5.4%21.1%27.3%19.2%1.0%1.9%569.8M-23.06B-128.0M0.693.66N/AN/A133,76692,9731,209,3251,136,550
2024-03-26$422.53$405.0021.9%5.3%21.1%26.2%18.9%1.4%2.9%555.5M-22.59B-128.5M0.524.95N/AN/A110,75357,4881,233,4821,161,677
2024-03-27$421.72$405.0022.2%5.0%21.2%28.2%17.6%1.4%2.3%527.8M-21.94B-127.9M0.693.93N/AN/A120,10482,9141,244,2301,171,410
2024-03-28$421.19$405.0022.4%4.9%21.0%29.9%17.3%1.3%2.5%514.5M-21.89B-126.7M0.553.35N/AN/A128,16770,3941,257,5961,182,682