MSFT Options History — July 2025

In July 2025, MSFT traded between $490.62 and $534.17. ATM implied volatility averaged 24.4%, placing in the 22.5% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded above realized volatility by 10.8% (HV 20d: 13.6%). Max pain ranged from $440.00 to $450.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 0.68.

Notable Days

  • 2025-07-31: Highest Volume — 1,083,035 contracts
  • 2025-07-31: Largest IV drop — 19.1% change
  • 2025-07-07: Highest IV Rank — 27.1%
  • 2025-07-29: Largest Expected Move — 8.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$506.26$490.62$534.17$492.24$534.17
Max Pain$441.82$440.00$450.00$445.00$450.00
ATM IV24.4%19.2%26.0%24.1%19.2%
Expected Move7.0%4.6%8.3%4.6%5.6%
HV 20d13.6%12.3%19.3%12.6%19.3%
HV 60d24.0%11.8%34.4%34.4%14.6%
IV Rank22.5%8.0%27.1%21.8%8.0%
IV Percentile58.9%21.0%69.0%58.3%21.0%
Term Structure-1.0%-1.3%-0.1%-0.9%-0.1%
VWIV24.7%16.3%28.7%16.3%20.4%
Skew 25d2.9%2.2%4.0%4.0%2.3%
Skew 10d6.0%3.7%7.8%7.8%3.9%
Call IV 25d23.2%18.4%24.1%23.0%18.4%
Put IV 25d26.0%20.7%27.3%26.9%20.7%
Bid-Ask Spread %8.142.8644.0116.7741.77
Gamma HHI0.130.050.380.090.06
Net GEX1.50B864.7M2.53B1.18B1.69B
Net DEX-34.00B-43.66B-28.58B-30.12B-43.66B
Net VEX-139.6M-144.4M-135.3M-140.8M-135.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.400.930.870.53
Total Volume270,007.273110,1141,083,035204,7621,083,035
Total OI2,233,501.4552,118,8522,404,2002,144,0322,371,375

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-07-01$492.24$445.0024.1%4.6%12.6%21.8%16.3%4.0%-0.9%1.18B-30.12B-140.8M0.8716.77N/AN/A109,35595,4071,246,866897,166
2025-07-02$490.62$445.0025.0%4.6%12.8%24.3%17.0%3.5%-1.0%1.11B-29.45B-141.8M0.6344.01N/AN/A116,75073,5501,269,224921,764
2025-07-03$499.56$440.0024.6%6.7%13.9%23.1%23.8%3.1%-0.9%2.14B-35.67B-139.7M0.464.30N/AN/A199,72292,3001,296,184932,721
2025-07-07$497.02$440.0026.0%7.0%14.1%27.1%24.9%3.4%-1.0%1.25B-32.19B-138.6M0.814.25N/AN/A70,40356,9831,237,792897,938
2025-07-08$496.02$440.0024.8%6.8%14.2%23.6%23.9%3.3%-0.8%1.29B-31.62B-137.6M0.783.88N/AN/A61,87448,2401,256,628914,677
2025-07-09$502.42$440.0024.7%6.8%14.6%23.5%23.0%2.8%-1.0%1.62B-35.44B-136.6M0.403.99N/AN/A267,914107,7541,267,448925,904
2025-07-10$501.97$440.0024.9%6.9%14.3%23.9%24.9%2.4%-1.1%1.67B-34.71B-138.5M0.463.63N/AN/A187,10285,6311,298,013944,211
2025-07-11$503.86$440.0024.6%6.8%14.3%23.2%25.2%2.4%-1.3%1.91B-36.24B-139.8M0.743.59N/AN/A154,920114,7531,358,653971,205
2025-07-14$503.00$440.0024.9%7.0%13.8%23.9%25.3%2.8%-1.0%1.49B-34.76B-137.9M0.933.05N/AN/A68,06963,4731,311,834937,540
2025-07-15$506.94$440.0025.0%7.1%12.9%24.4%25.2%2.9%-1.1%1.71B-36.93B-137.8M0.833.57N/AN/A129,056107,5641,324,890953,507
2025-07-16$506.38$440.0025.0%7.2%12.8%24.2%25.2%3.1%-1.2%1.63B-36.21B-138.1M0.823.55N/AN/A97,74480,4561,339,033976,864
2025-07-17$512.12$440.0024.5%7.1%13.0%23.0%25.1%2.6%-1.1%1.96B-40.36B-136.1M0.483.99N/AN/A261,959126,7101,346,687993,357
2025-07-18$509.25$440.0023.9%7.0%13.4%21.3%25.0%2.5%-1.2%1.74B-37.62B-138.7M0.674.85N/AN/A183,777122,6611,384,0831,020,117
2025-07-21$509.95$440.0024.2%7.3%13.0%22.0%25.9%2.8%-1.0%1.49B-32.37B-139.4M0.833.52N/AN/A89,71174,3641,243,213875,639
2025-07-22$505.46$440.0024.9%7.6%12.6%24.0%26.3%3.5%-0.8%1.10B-28.96B-143.5M0.617.64N/AN/A101,05461,8121,252,273912,544
2025-07-23$504.66$440.0024.9%7.7%12.4%23.9%27.5%3.4%-1.1%1.06B-28.58B-144.4M0.744.22N/AN/A115,31085,3391,271,960925,932
2025-07-24$511.74$440.0024.0%7.4%13.2%21.6%26.9%2.8%-1.0%1.83B-33.18B-142.2M0.633.37N/AN/A145,35191,5601,287,104946,137
2025-07-25$515.92$440.0024.0%7.5%12.9%21.4%26.8%2.9%-1.1%2.53B-36.26B-141.4M0.583.67N/AN/A223,221130,0611,301,117963,918
2025-07-28$511.06$445.0024.6%8.2%13.4%23.3%28.7%2.2%-1.2%870.1M-31.07B-141.4M0.762.86N/AN/A83,69163,3841,222,631920,935
2025-07-29$512.32$445.0024.6%8.3%13.3%23.1%28.7%2.2%-1.2%878.5M-31.74B-140.3M0.683.12N/AN/A89,40360,8081,243,187943,173
2025-07-30$511.00$450.0023.7%7.9%12.3%20.7%27.7%2.3%-1.2%864.7M-30.86B-140.9M0.795.36N/AN/A200,318157,6111,268,568963,020
2025-07-31$534.17$450.0019.2%5.6%19.3%8.0%20.4%2.3%-0.1%1.69B-43.66B-135.3M0.5341.77N/AN/A707,883375,1521,343,6901,027,685