Mixed options sentiment in Microsoft with shares up 1.79%

Mixed options sentiment in Microsoft (MSFT), with shares up $7.37, or 1.79%, near $418.59. Options volume running well above average with 993k contracts traded and calls leading puts for a put/call ratio of 0.38, compared to a typical level near 0.79. Implied volatility (IV30) dropped 0.46 near 37.8, in the highest 10% of observations over the past year, suggesting an expected daily move of $9.97. 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 6.04% or $25.26.