Mixed options sentiment in Microsoft with shares up 0.83%

Mixed options sentiment in Microsoft (MSFT), with shares up $3.50, or 0.83%, near $428.32. Options volume relatively light with 245k contracts traded and calls leading puts for a put/call ratio of 0.45, compared to a typical level near 0.59. Implied volatility (IV30) dropped 0.28 near 39.6, in the highest 10% of observations over the past year, suggesting an expected daily move of $10.68. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Microsoft (MSFT) will report earnings after the close on 2026-04-29.Option markets are pricing in a 50% probability of a move greater than 10.49% or $44.95.