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MSFT

Microsoft CorporationClose $450.24EOD only

Max Pain

$415.00

Next expiry Jun 1, 2026

Expected Move

±$7.85

1.7% from close

Price Gap

-35.24

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.46

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: May 29, 2026 close

End-of-day snapshot

This page reflects MSFT options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 29, 2026 close

MSFT Flow Report

Analysis based on market close April 13, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

You are viewing an older report from April 13, 2026. A newer flow report is available for May 26, 2026.

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Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.9% from MP; +0.5 VIX 19

Watch next session: $380-$385 call OI / premium flows (near‑term: $380 net call premium $76,989,706); Large put prints at $377.50-$380 for 4/15 that would signal defensive repositioning

Flow Summary

Net premium: +$183.7M bullish

P/C volume ratio: 0.36 — strong call-dominant volume

P/C OI ratio: 0.45 — call-lean in positioning (moderate)

Clear, institution-scale call buying and/or call-heavy positioning concentrated at near-spot strikes ($375–$385) is driving a bullish flow regime. Dealers are long gamma (GEX +$213.2M) and setting up pinning around $380–$385, while large structural call OI out beyond $405 creates a distant resistance band.

Notable Prints

MSFT 2026-04-13 $382.50 Call

Vol: 63,486

OI: 1,629

Vol/OI: 39.0x

IV: 6.7%

Notional: ~$11.68M

Intent: Fresh directional call buying / short-delta dealer hedges (same-day expiry pinning)

Dual read: Aggressive buyer of calls (bullish) or seller overwriting existing exposure (neutral) given low IV and 0d expiry.

Read-through: Large same-day ITM call flow is consistent with pinning into $380–$385 and forced dealer delta rebalancing; contributes to positive GEX and upward price support intraday.

MSFT 2026-04-13 $380.00 Put

Vol: 27,826

OI: 148

Vol/OI: 188.0x

IV: 10.0%

Notional: ~$27.8K

Intent: Expiration-day option activity — likely rapid closing/rolling or gamma-driven churn rather than a fresh large directional hedge.

Dual read: Could be large fast sellers (closing) or cheap emergency hedges by short-term players.

Read-through: Very high vol/OI but negligible premium; not meaningful long-dated protective put buying. Primarily an expiration/gamma event.

MSFT 2026-04-13 $385.00 Call

Vol: 35,125

OI: 1,625

Vol/OI: 21.6x

IV: 2.0%

Notional: ~$702.5K

Intent: Same-day ITM call accumulation — directional intraday bullish bets or delta adjustments from dealers.

Dual read: Buy-side bullish or market-maker risk management creating large print; low IV suggests executed by liquidity providers.

Read-through: Adds to near-term pin concentration at $385 (GEX +$18.3M at $385) and supports dealer hedging that cushions downside.

MSFT 2026-04-15 $380.00 Put

Vol: 3,253

OI: 113

Vol/OI: 28.8x

IV: 25.4%

Notional: ~$561K

Intent: Short-dated protective puts or tactical downside hedge into the 4/15 expiry.

Dual read: Could be genuine protective buying (bearish/defensive) or part of expiration roll/structure for sellers.

Read-through: Notable but modest notional vs call premium at same strikes; insufficient to offset dominant call premium concentration at $380 ($86.12M call premium).

MSFT 2026-04-13 $375.00 Put

Vol: 19,062

OI: 460

Vol/OI: 41.4x

IV: 19.5%

Notional: ~$190.6K

Intent: Same-day hedging/closing activity — tactical protective flow or expiration gamma churn.

Dual read: Could be short-term protection (bearish) or closing of earlier positions (neutral).

Read-through: Large vol/OI but small premium relative to call premium. Reinforces that much of the unusual expiring put flow is expiry mechanics, not a change in institutional directional exposure.

Institutional Positioning

Call additions: Heavy call premium concentrated at $375-$385 (Top Premium Flow: $380 net call premium $76,989,706; $375 net $47,306,194; $382.50 net $18,621,385). Structural call OI band sits $405–$575 but near-term buying is focused closer to spot.

Put additions: Limited put accumulation; near-term put OI clusters at $360 and $365 exist but premium flow is dominated by calls. Some tactical short-dated put prints exist (4/13 and 4/15) but not large enough to change net position.

GEX/DEX consistency: Yes — Net premium +$183.7M and positive Total GEX +$213.2M align with the 'Bullish' flow classification and the observed pinning around $380–$385.

OI clusters: Near-term OI clusters: calls at $380 (5,041 OI), $375 (2,565 OI), $390 (2,533 OI); puts concentrated below spot at $365 (2,526 OI) and $360 (2,359 OI). Long-dated structural call wall at $405-$575 (calls OI heavy) creates a distant supply band.

Hedging evidence: Dealer positioning (GEX +$213.2M) indicates dealers are net long gamma — likely short underlying delta vs long options (call-heavy flow). There is limited evidence of large protective collars or substantial institutional put accumulation in the near-term expiries.

Max pain context: Max Pain cluster sits at $370 for several near expiries but the short-term MP for 4/17 is $380 — with spot above MP and pinning concentrated at $380–$385, dealers are positioned to pin spot in that band rather than push toward $370 immediately.

Signal vs Noise

~Large same-day expiry prints (4/13) at $380, $382.50, $385 — high vol/OI but very low premium or low IV: primarily expiration/gamma churn and dealer delta adjustments, not fresh directional large‑term bets.

~Many deep vol/OI ratio prints on 0–2d expiries (e.g., $380P vol/oi 188x) — treat as expiry mechanics rather than durable protective put accumulation.

~Structural high OI at $405-$575 calls is long-dated positioning/sell-side supply; single-day spikes near those strikes are likely part of spread rolls or covered call activity, not pure directional new buying.

Key Conclusions

🐂Large net premium (+$183.7M) and low P/C volume ratio (0.36) point to meaningful institutional call demand concentrated at $375–$385.

📌Dealer GEX +$213.2M and near-term GEX concentration at $380–$385 create pinning risk — expect spot to gravitate toward $380–$385 absent a flow reversal.

🧾Expiration-day prints (4/13) are noisy: large vol/OI ratios but tiny premiums — these are gamma/roll mechanics and should not be overread as institutional put insurance.

🛡️Modest 4/15 put activity exists (e.g., $380P vol 3,253, notional ~$561K) — monitor for follow-through; sustained put premium would weaken the bullish thesis.

🚧Key resistance cluster inside the ±10% band is $405 (call wall); watch EM guardrails $391.17 and $395.72 as near-term upside caps.

🧭Support / pin band is $380–$385 (near-term GEX +$18.3M at $385; +$9.1M at $380), with max pain at $370 providing a lower structural anchor if flow flips.

How to Use These Reports

This flow reflects the market close on April 13, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.