Moderately bullish activity in Microsoft with shares down 0.65%

Moderately bullish activity in Microsoft (MSFT), with shares down $2.73 near $417.42. Options volume roughly in line with average with 281k contracts traded and calls leading puts for a put/call ratio of 0.22, compared to a typical level near 0.39. Implied volatility (IV30) is higher by 0.2 points near 28.96,in the top quartile of the past year, suggesting an expected daily move of $7.61. Put-call skew flattened, suggesting a modestly bullish tone.