What’s Behind Call Action In Microsoft?

A huge call spread dominates today’s option activity in Microsoft this morning as shares remain near 2012 lows.

MSFT is down fractionally today at $26.56, just above the close of $26.52 from two weeks ago, which was the lowest since the last day of 2011. Shares did climb up to levels just shy of $33 by mid-March but have been generally trending lower since.

One trade in the April calls makes most of the market so far, according to optionMONSTER’s scanners. A trader bought 34,500 April 29 calls for the ask price of $0.58 against open interest of almost 50,000. At the same time, he or she sold 20,100 April 27 calls for the bid price of $1.25 with open interest at fewer than 4,000 at that strike, so this is a new position.

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