MSFT Options History — February 2026 In February 2026, MSFT traded between $383.46 and $423.84. ATM implied volatility averaged 28.2%, placing in the 33.1% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded below realized volatility by 21.6% (HV 20d: 49.8%). Max pain ranged from $420.00 to $460.00. Net GEX was positive for 13 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.70.
Notable Days 2026-02-19 : Highest Volume — 1,079,611 contracts2026-02-05 : Largest IV spike — 18.8% change2026-02-05 : Highest IV Rank — 43.6%2026-02-05 : Largest Expected Move — 9.0%Monthly Statistics Metric Avg Min Max Open Close Price $401.96 $383.46 $423.84 $423.84 $393.51 Max Pain $435.92 $420.00 $460.00 $460.00 $420.00 ATM IV 28.2% 24.1% 31.9% 24.1% 28.4% Expected Move 8.1% 6.9% 9.0% 6.9% 8.2% HV 20d 49.8% 35.1% 52.7% 46.0% 35.1% HV 60d 33.3% 30.6% 34.6% 30.6% 34.6% IV Rank 33.1% 21.9% 43.6% 21.9% 33.7% IV Percentile 75.3% 58.3% 90.5% 58.3% 74.2% Term Structure -0.0% -0.4% 0.2% 0.2% 0.1% VWIV 28.4% 24.5% 32.0% 24.5% 28.6% Skew 25d 3.2% 1.3% 4.3% 1.3% 3.8% Skew 10d 5.4% 1.7% 7.6% 1.7% 6.7% Call IV 25d 27.1% 24.0% 30.6% 24.0% 27.0% Put IV 25d 30.3% 25.3% 34.9% 25.3% 30.8% Bid-Ask Spread % 12.47 9.75 15.58 10.57 9.94 Gamma HHI 0.04 0.03 0.08 0.04 0.03 Net GEX 161.2M -286.6M 932.5M 38.4M 240.4M Net DEX 4.74B -4.51B 12.71B 3.12B 1.06B Net VEX -190.9M -211.9M -168.4M -192.4M -203.6M Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 0.70 0.34 1.85 0.46 1.12 Total Volume 777,568.579 461,902 1,079,611 699,687 849,109 Total OI 3,324,700.105 2,891,820 3,571,575 3,015,984 3,480,050
Daily Data (19 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 2026-02-02 $423.84 $460.00 24.1% 6.9% 46.0% 21.9% 24.5% 1.3% 0.2% 38.4M 3.12B -192.4M 0.46 10.57 N/A N/A 479,768 219,919 2,039,013 976,971 2026-02-03 $409.73 $452.50 27.1% 8.0% 46.9% 30.3% 28.5% 2.3% -0.0% -158.6M 8.22B -171.1M 0.69 10.55 N/A N/A 510,501 352,884 1,902,981 988,839 2026-02-04 $415.74 $450.00 26.8% 7.8% 47.2% 29.4% 27.4% 2.8% -0.1% 188.5M 4.63B -182.8M 0.48 15.58 N/A N/A 464,752 222,718 2,031,453 1,078,289 2026-02-05 $393.14 $450.00 31.9% 9.0% 49.6% 43.6% 32.0% 4.3% -0.4% -286.6M 12.71B -168.4M 0.77 12.45 N/A N/A 515,529 394,842 2,014,529 1,085,212 2026-02-06 $400.56 $450.00 28.3% 8.2% 50.7% 33.4% 29.2% 2.4% 0.2% -72.0M 8.05B -182.3M 0.40 10.87 N/A N/A 601,866 240,626 2,159,168 1,133,907 2026-02-09 $413.81 $440.00 26.9% 7.7% 52.6% 29.7% 27.7% 2.4% 0.1% 424.4M 911.0M -197.9M 0.34 13.04 N/A N/A 562,807 191,046 2,120,324 1,119,077 2026-02-10 $413.84 $440.00 26.9% 7.7% 52.6% 29.7% 27.7% 2.9% 0.0% 440.3M 1.07B -199.7M 0.34 13.07 N/A N/A 482,867 163,507 2,175,707 1,146,365 2026-02-11 $404.05 $440.00 28.0% 8.0% 52.7% 32.7% 28.5% 2.7% -0.0% 57.1M 6.50B -193.3M 0.59 13.35 N/A N/A 474,453 279,226 2,232,549 1,177,442 2026-02-12 $402.74 $440.00 29.7% 8.5% 52.5% 37.4% 29.9% 3.9% -0.1% 89.0M 6.33B -194.4M 0.72 14.53 N/A N/A 343,616 248,268 2,276,266 1,189,611 2026-02-13 $400.51 $435.00 29.5% 8.5% 52.5% 36.8% 29.4% 4.0% 0.1% -137.6M 7.36B -193.9M 0.51 13.95 N/A N/A 446,471 227,565 2,321,618 1,224,582 2026-02-17 $396.67 $435.00 29.4% 8.4% 52.1% 36.5% 29.4% 3.7% -0.3% -180.6K 8.93B -185.8M 0.52 10.51 N/A N/A 304,606 157,296 2,226,103 1,184,670 2026-02-18 $400.21 $435.00 28.1% 8.0% 52.4% 32.9% 27.9% 3.4% -0.0% 293.2M 6.82B -189.8M 0.41 15.25 N/A N/A 369,659 150,770 2,293,067 1,222,074 2026-02-19 $397.38 $430.00 28.8% 8.2% 51.8% 34.8% 28.0% 3.4% 0.2% 114.7M 7.56B -192.1M 1.85 13.49 N/A N/A 379,234 700,377 2,328,979 1,227,252 2026-02-20 $397.49 $425.00 27.9% 8.0% 51.2% 32.4% 27.9% 3.4% 0.2% 109.5M 3.88B -192.3M 0.67 13.12 N/A N/A 471,687 316,315 2,409,802 1,161,773 2026-02-23 $383.46 $420.00 29.8% 8.6% 49.3% 37.8% 30.2% 4.2% -0.1% -178.4M 7.82B -179.3M 0.70 9.75 N/A N/A 586,499 412,510 2,050,745 1,083,413 2026-02-24 $388.47 $420.00 28.3% 8.1% 49.5% 33.4% 28.9% 3.5% -0.0% 225.7M 3.84B -190.4M 0.74 9.80 N/A N/A 328,841 242,719 2,161,681 1,124,872 2026-02-25 $400.20 $420.00 27.5% 7.9% 50.6% 31.3% 27.8% 3.2% -0.3% 932.5M -4.23B -206.5M 0.56 13.40 N/A N/A 647,694 359,915 2,237,598 1,161,464 2026-02-26 $401.84 $420.00 27.7% 7.9% 50.8% 31.9% 26.6% 3.4% 0.1% 742.9M -4.51B -211.9M 1.37 13.72 N/A N/A 453,447 619,894 2,245,219 1,176,637 2026-02-27 $393.51 $420.00 28.4% 8.2% 35.1% 33.7% 28.6% 3.8% 0.1% 240.4M 1.06B -203.6M 1.12 9.94 N/A N/A 400,728 448,381 2,286,279 1,193,771
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