Mixed options sentiment in Microsoft with shares down 3.42%

Mixed options sentiment in Microsoft (MSFT), with shares down $18.52 near $523.03. Options volume nearly triple the daily average with 519k contracts traded and calls leading puts for a put/call ratio of 0.35, compared to a typical level near 0.5. Implied volatility (IV30) dropped 8.76 near 22.25,and above the 52wk median, suggesting an expected daily move of $7.33. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at Guggenheim.The company announced earnings after the close on 2025-10-29with option markets having priced in a move of approximately 5.93%.