Microsoft (MSFT) is off 41 cents to $30.94 in active trading of 14.5 million shares and is one of 18 Dow stocks trading lower, as market action has turned mixed after the big gains seen Thursday. On the options front, 18000 Nov 31 calls were bought on the software-maker this morning for $1.08 per contract. More than 20K now traded against 29K in open interest. Total volume in Microsoft so far is 53,000 calls and 14,000 puts. Projected volume of 218K is more than double the daily average for MSFT (during the past month). 30 day ATM implied volatility is up 4 percent to 19 and in roughly the 25th percentile of the 52-week range (15.5 – 41.5).
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.