Mixed options sentiment in Microsoft (MSFT), with shares up $2.12, or 0.42%, near $503.60. Options volume roughly in line with average with 297k contracts traded and calls leading puts for a put/call ratio of 0.76, compared to a typical level near 0.71. Implied volatility (IV30) dropped 0.11 near 24.64,and above the 52wk median, suggesting an expected daily move of $7.82. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Outperform at Oppenheimer.Looking ahead: Microsoft (MSFT) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.
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