Core Viewpoint - Option traders exhibit a moderately bearish sentiment towards Microsoft (MSFT), with shares trading down by $0.36 to approximately $404.52 [1] Options Activity - Options volume is relatively light, with 299,000 contracts traded, and calls outnumbering puts, resulting in a put/call ratio of 0.54, which is lower than the typical level of around 0.77 [1] - Implied volatility (IV30) has increased by 1.0 points to approximately 27.77, which is above the 52-week median, indicating an expected daily price movement of $7.08 [1] - The put-call skew has steepened, reflecting a heightened demand for downside protection among traders [1]