MSFT Options History — February 2025

In February 2025, MSFT traded between $393.17 and $415.91. ATM implied volatility averaged 21.7%, placing in the 31.0% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded below realized volatility by 9.1% (HV 20d: 30.8%). Max pain ranged from $410.00 to $450.00. Net GEX was positive for 15 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.46.

Notable Days

  • 2025-02-20: Highest Volume — 668,251 contracts
  • 2025-02-25: Largest IV spike — 8.9% change
  • 2025-02-27: Highest IV Rank — 53.9%
  • 2025-02-27: Largest Expected Move — 7.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$407.77$393.17$415.91$413.54$393.17
Max Pain$430.53$410.00$450.00$415.00$410.00
ATM IV21.7%19.6%25.9%22.7%24.3%
Expected Move6.3%5.7%7.6%6.7%7.1%
HV 20d30.8%14.3%35.0%35.0%14.3%
HV 60d24.9%24.3%25.7%25.7%24.6%
IV Rank31.0%19.2%53.9%36.5%44.9%
IV Percentile47.9%27.8%73.0%58.7%65.1%
Term Structure-0.0%-0.5%0.2%-0.0%-0.2%
VWIV21.9%20.0%25.6%23.1%25.0%
Skew 25d2.6%1.3%4.5%1.9%4.3%
Skew 10d5.9%3.4%9.3%4.6%9.2%
Call IV 25d20.7%18.7%24.1%22.0%22.7%
Put IV 25d23.3%20.8%28.6%24.0%27.0%
Bid-Ask Spread %2.592.282.972.642.43
Gamma HHI0.060.030.370.030.05
Net GEX191.5M-927.4M1.10B152.7M-220.3M
Net DEX-2.67B-7.32B1.00B-3.71B214.1M
Net VEX-126.6M-130.5M-123.2M-128.5M-123.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.460.200.790.500.79
Total Volume366,843.105209,612668,251328,505436,566
Total OI2,314,862.7892,147,2712,467,7992,184,4132,303,667

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-02-03$413.54$415.0022.7%6.7%35.0%36.5%23.1%1.9%-0.0%152.7M-3.71B-128.5M0.502.64N/AN/A219,690108,8151,268,862915,551
2025-02-04$411.97$415.0021.6%6.1%34.9%30.5%21.4%1.9%0.0%141.0M-2.86B-127.2M0.332.69N/AN/A204,97967,5061,310,886935,479
2025-02-05$412.55$415.0021.0%6.0%34.6%27.2%21.2%1.9%0.1%257.7M-3.63B-128.8M0.402.35N/AN/A164,67665,6841,357,143946,529
2025-02-06$415.00$450.0020.2%5.8%34.4%22.5%20.6%1.9%0.1%421.3M-5.07B-128.9M0.462.97N/AN/A221,940102,6201,372,753959,966
2025-02-07$409.98$450.0021.3%6.1%34.5%28.4%21.6%2.4%-0.0%-927.4M-1.80B-127.7M0.432.57N/AN/A353,538152,9721,382,918970,938
2025-02-10$411.77$440.0020.6%5.9%34.4%24.7%20.7%2.2%-0.0%229.8M-3.29B-126.7M0.472.71N/AN/A165,55078,0941,296,746944,102
2025-02-11$411.60$440.0020.0%5.8%34.3%21.8%20.5%2.1%0.1%199.9M-3.00B-126.7M0.382.49N/AN/A152,40357,2091,312,848963,245
2025-02-12$408.54$440.0020.2%5.8%34.3%22.6%20.6%2.3%0.1%130.3M-1.63B-126.7M0.492.72N/AN/A157,03577,5761,352,180976,165
2025-02-13$410.09$440.0019.6%5.7%31.7%19.2%20.0%2.1%0.2%278.5M-2.71B-126.4M0.352.55N/AN/A223,71278,7551,370,081994,318
2025-02-14$407.36$440.0020.2%5.8%31.8%22.6%20.3%2.2%0.2%176.0M-1.09B-125.6M0.412.70N/AN/A323,436132,5221,405,4051,002,863
2025-02-18$407.91$440.0020.5%5.9%31.4%24.5%21.2%2.1%0.1%418.0M-2.05B-125.1M0.382.58N/AN/A180,61169,3701,401,291990,640
2025-02-19$414.65$440.0020.9%6.0%32.1%26.6%21.2%1.3%0.1%906.3M-7.32B-128.4M0.202.66N/AN/A471,00892,1831,432,0401,008,584
2025-02-20$415.91$440.0020.8%5.9%28.3%25.8%20.2%1.7%0.2%1.10B-7.21B-130.5M0.412.44N/AN/A475,322192,9291,437,4981,030,301
2025-02-21$408.58$430.0022.0%6.3%28.7%32.8%21.8%3.3%-0.1%326.3M-2.37B-127.9M0.522.89N/AN/A303,219156,5661,439,5451,010,688
2025-02-24$404.66$430.0022.5%6.5%28.8%35.1%22.4%3.5%-0.1%111.4M-1.83B-124.4M0.612.28N/AN/A271,638167,0091,239,425907,846
2025-02-25$397.44$415.0024.5%7.1%28.7%46.0%24.2%4.1%-0.4%-20.9M-385.9M-123.2M0.622.39N/AN/A222,406138,8431,293,521903,803
2025-02-26$399.62$415.0023.9%7.0%26.5%42.9%24.1%4.0%-0.2%100.2M-1.91B-125.0M0.502.40N/AN/A206,918104,0131,335,169921,948
2025-02-27$393.26$415.0025.9%7.6%26.8%53.9%25.6%4.5%-0.5%-144.4M1.00B-124.4M0.492.78N/AN/A249,436123,2701,348,568938,881
2025-02-28$393.17$410.0024.3%7.1%14.3%44.9%25.0%4.3%-0.2%-220.3M214.1M-123.8M0.792.43N/AN/A243,390193,1761,373,093930,574