Moderately bullish activity in Microsoft (MSFT), with shares up $8.03, or 1.55%, near $525.38. Options volume running well above average with 224k contracts traded and calls leading puts for a put/call ratio of 0.39, compared to a typical level near 0.47. Implied volatility (IV30) is higher by 1.1 points near 27.95,in the top quartile of the past year, suggesting an expected daily move of $9.25. Put-call skew flattened, suggesting a modestly bullish tone.
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