Mixed options sentiment in Microsoft (MSFT), with sharesflat near $505.82. Options volume relatively light with 216k contracts traded and calls leading puts for a put/call ratio of 0.84, compared to a typical level near 0.73. Implied volatility (IV30) dropped 0.17 near 24.75,and above the 52wk median, suggesting an expected daily move of $7.89. 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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