Moderately bullish activity in Microsoft (MSFT), with shares up $3.58, or 0.7%, near $515.04. Options volume relatively light with 224k contracts traded and calls leading puts for a put/call ratio of 0.44, compared to a typical level near 0.5. Implied volatility (IV30) is higher by 3.3 points near 25.12,and above the 52wk median, suggesting an expected daily move of $8.15. Put-call skew flattened, suggesting a modestly bullish tone.
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