MSFT Options History — August 2025

In August 2025, MSFT traded between $498.88 and $534.76. ATM implied volatility averaged 18.7%, placing in the 6.6% IV rank vs the trailing year. The 30-day expected move averaged 5.4%. IV traded below realized volatility by 3.7% (HV 20d: 22.4%). Max pain ranged from $455.00 to $490.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 0.58.

Notable Days

2025-08-01: Highest Volume — 555,973 contracts
2025-08-04: Largest IV drop — 8.6% change
2025-08-21: Highest IV Rank — 10.2%
2025-08-01: Largest Expected Move — 5.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$516.21	$498.88	$534.76	$524.14	$508.73
Max Pain	$482.14	$455.00	$490.00	$455.00	$490.00
ATM IV	18.7%	17.6%	20.0%	19.9%	18.1%
Expected Move	5.4%	5.0%	5.8%	5.8%	5.2%
HV 20d	22.4%	17.1%	24.5%	20.2%	17.1%
HV 60d	16.5%	15.3%	17.3%	15.3%	17.3%
IV Rank	6.6%	3.6%	10.2%	9.9%	5.0%
IV Percentile	18.9%	9.5%	32.1%	26.2%	14.3%
Term Structure	0.2%	-0.3%	0.4%	-0.3%	0.3%
VWIV	19.1%	17.3%	20.7%	20.7%	18.1%
Skew 25d	2.8%	2.2%	4.0%	4.0%	2.8%
Skew 10d	6.3%	5.0%	8.3%	8.3%	6.6%
Call IV 25d	17.7%	16.6%	18.8%	18.3%	17.0%
Put IV 25d	20.4%	19.0%	22.4%	22.4%	19.8%
Bid-Ask Spread %	4.44	2.37	28.15	3.19	3.70
Gamma HHI	0.05	0.04	0.09	0.09	0.08
Net GEX	882.0M	318.4M	1.56B	1.25B	1.01B
Net DEX	-27.93B	-40.79B	-16.69B	-35.41B	-22.73B
Net VEX	-150.7M	-154.8M	-145.3M	-150.6M	-152.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.58	0.36	1.38	0.67	0.51
Total Volume	296,954.762	183,896	555,973	555,973	302,337
Total OI	2,363,484.524	2,166,143	2,523,033	2,517,263	2,370,906

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-08-01	$524.14	$455.00	19.9%	5.8%	20.2%	9.9%	20.7%	4.0%	-0.3%	1.25B	-35.41B	-150.6M	0.67	3.19	N/A	N/A	332,812	223,161	1,444,877	1,072,386
2025-08-04	$534.76	$470.00	18.1%	5.3%	21.0%	5.1%	19.2%	3.1%	0.3%	1.36B	-40.79B	-145.3M	0.45	3.60	N/A	N/A	242,347	108,332	1,343,690	969,586
2025-08-05	$528.50	$475.00	18.3%	5.4%	21.6%	5.5%	19.4%	3.3%	0.3%	1.23B	-37.20B	-148.3M	0.67	3.53	N/A	N/A	120,313	81,115	1,387,376	993,865
2025-08-06	$524.41	$475.00	18.7%	5.5%	21.6%	6.6%	19.6%	3.2%	0.2%	1.13B	-34.80B	-150.9M	0.50	3.34	N/A	N/A	137,408	68,084	1,403,297	1,004,470
2025-08-07	$519.16	$475.00	19.2%	5.6%	22.0%	8.2%	19.8%	3.3%	0.2%	882.1M	-31.70B	-151.4M	0.56	3.32	N/A	N/A	211,611	118,955	1,415,900	1,016,397
2025-08-08	$520.86	$475.00	17.9%	5.3%	22.0%	4.6%	18.5%	2.5%	0.3%	1.07B	-33.36B	-147.5M	0.62	3.17	N/A	N/A	176,118	108,936	1,447,498	1,035,026
2025-08-11	$521.40	$480.00	19.0%	5.5%	22.0%	7.4%	18.9%	2.8%	0.1%	1.18B	-33.14B	-148.1M	0.37	3.44	N/A	N/A	199,951	74,264	1,382,368	993,491
2025-08-12	$529.51	$480.00	18.0%	5.2%	22.4%	4.6%	18.5%	2.2%	0.2%	1.56B	-37.87B	-148.2M	0.36	3.12	N/A	N/A	198,121	71,947	1,411,707	1,011,554
2025-08-13	$519.58	$480.00	18.7%	5.4%	23.6%	6.6%	19.2%	2.4%	0.3%	1.02B	-31.44B	-150.2M	0.47	4.02	N/A	N/A	183,665	86,232	1,421,147	1,024,301
2025-08-14	$522.10	$480.00	18.4%	5.4%	23.4%	5.9%	18.8%	2.4%	0.3%	1.27B	-32.78B	-151.2M	0.56	3.16	N/A	N/A	209,735	117,504	1,451,239	1,048,137
2025-08-15	$523.29	$485.00	17.8%	5.2%	23.2%	4.2%	18.5%	2.2%	0.3%	924.7M	-33.45B	-150.0M	0.81	3.42	N/A	N/A	178,405	144,323	1,454,849	1,068,184
2025-08-18	$515.72	$485.00	19.0%	5.4%	23.9%	7.4%	19.0%	2.6%	0.0%	551.4M	-23.34B	-150.4M	0.63	4.78	N/A	N/A	195,312	122,843	1,229,433	936,710
2025-08-19	$509.02	$490.00	19.4%	5.6%	24.2%	8.5%	20.2%	3.0%	0.0%	318.4M	-19.64B	-153.8M	0.49	2.64	N/A	N/A	190,450	93,067	1,277,073	976,921
2025-08-20	$506.89	$490.00	19.3%	5.5%	24.2%	8.3%	19.6%	2.8%	0.3%	336.2M	-18.92B	-153.2M	0.47	2.91	N/A	N/A	201,204	94,930	1,306,556	988,344
2025-08-21	$504.60	$490.00	20.0%	5.7%	23.7%	10.2%	19.3%	3.1%	0.1%	387.9M	-18.50B	-154.8M	1.38	2.37	N/A	N/A	135,101	186,323	1,333,997	1,002,639
2025-08-22	$506.75	$490.00	18.4%	5.2%	23.6%	5.7%	18.5%	2.5%	0.3%	414.6M	-20.10B	-150.8M	0.51	28.15	N/A	N/A	224,510	114,469	1,347,113	1,005,387
2025-08-25	$505.11	$490.00	18.6%	5.3%	23.4%	6.3%	19.2%	2.4%	0.2%	539.7M	-19.85B	-150.7M	0.57	2.81	N/A	N/A	116,997	66,899	1,243,632	944,050
2025-08-26	$498.88	$490.00	19.1%	5.5%	23.7%	7.8%	19.5%	2.7%	0.2%	370.4M	-16.69B	-150.9M	0.65	2.71	N/A	N/A	170,360	111,543	1,276,578	961,429
2025-08-27	$506.75	$490.00	18.7%	5.3%	24.5%	6.6%	18.7%	2.6%	0.2%	781.0M	-21.36B	-152.9M	0.47	2.63	N/A	N/A	179,921	84,959	1,316,083	981,659
2025-08-28	$510.23	$490.00	17.6%	5.0%	18.2%	3.6%	17.3%	2.4%	0.4%	945.9M	-23.43B	-152.7M	0.51	3.11	N/A	N/A	167,009	84,477	1,332,797	1,000,523
2025-08-29	$508.73	$490.00	18.1%	5.2%	17.1%	5.0%	18.1%	2.8%	0.3%	1.01B	-22.73B	-152.7M	0.51	3.70	N/A	N/A	199,703	102,634	1,363,197	1,007,709