MSFT
Microsoft CorporationClose $416.03EOD onlyThis page reflects MSFT options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
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You are viewing an older report from April 8, 2026. A newer flow report is available for May 26, 2026.
View latest reportFlow Verdict
Watch next session: Follow short-dated put flow at $375/$377.50/$372.50 (fresh buying or closing); Watch price reaction to $380 (GEX pin magnet) — strong rejection would reinforce pin
Flow Summary
Net premium: -$141.8M bearish (net premium skew toward puts)
P/C volume ratio: 0.53 — call-dominant by volume, but premium skew contradicts
P/C OI ratio: 0.45 — OI tilts toward calls (longer-dated call walls), but today's flow is put-heavy in premium
Notable Prints
Read-through: Concentrated short-dated put premium at-the-money; consistent with institutions hedging downside near the $370 MP or positioning for a near-term pullback.
Read-through: Very high vol/OI ratio at a strike that sits near max pain; strong short-dated buying signal that amplifies near-term downside skew.
Read-through: Extremely unusual vol/OI suggests an active trade (likely a buyer of downside protection) placed right around immediate spot — reinforces short-term bearish/hedge narrative.
Read-through: Large notional centered on the $380 GEX magnet — could be buying of protection with an eye toward pinning around that level or taking a tactical short bias.
Read-through: Meaningful call activity at the upper near-term range that could represent hedges or take-profit positioning — but not large enough in premium to offset put-heavy net premium.
Institutional Positioning
Call additions: $400–$525 long-dated call OI wall (structural); near-term call OI clusters at $380/$390/$400 indicate dealers are long gamma in that band
Put additions: Short-dated put buying concentrated at $372.50/$375.00/$377.50/$380.00 (significant premium today); long-dated tail puts also printed (e.g., $490.00 06-18) suggesting selective long-dated hedges
GEX/DEX consistency: Partially consistent — positive Total GEX $84.3M supports dealer pinning behavior around 375–380 while net premium (-$141.8M) shows customers buying puts; GEX helps keep price near magnets despite bearish premium flow
OI clusters: Near-term OI clusters: calls at $380 (9,697), $390 (7,191), $400 (6,259); puts cluster at $370 (3,980), $365 (3,854), $360 (3,511) — creates a shallow pin around $370–$380 with longer-term call walls well above spot
Hedging evidence: Clear evidence of near-term protective puts (short-dated, ATM/ITM) — consistent with institutions hedging or adding bearish exposure; little sign of extensive collar structures in the near chain, though long-dated put prints hint at selective tail protection
Max pain context: Max Pain concentrated at $370 across multiple expirations. Spot ($374.33) sits above MP; combined with GEX pin magnets at $375/$372.50/$380, dealers have incentive to keep price around the 370–380 range into expiries.
Signal vs Noise
Key Conclusions
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