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MSFT

Microsoft CorporationClose $418.07EOD only

Max Pain

$400.00

Next expiry Apr 22, 2026

Expected Move

±$7.32

1.8% from close

Price Gap

-18.07

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.45

Slightly call-heavy

Consensus

7.0/10

Consensus signal

Published snapshot: Apr 20, 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

Apr 20, 2026 close

MSFT Flow Report

Analysis based on market close April 21, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.5% from MP; +0.5 VIX 20

Watch next session: Monitor 430/425 call activity and 420–425 put fills; Spot vs mid-price around 420–428; VIX moves and DEX flow

Flow Summary

Net premium: +$299.6M bullish

P/C volume ratio: 0.36

P/C OI ratio: 0.46

Call-heavy flow with sizable positive GEX and pinning gamma supporting upside; key risk is a quick move below ~420 that would flip flow to bearish.

Notable Prints

MSFT 2026-04-22 $425.00 Put

Vol: 18,896

OI: 280

Vol/OI: 67.5x

IV: 24.8%

Notional: ~$6.7M

Intent: Protective or speculative put buying

Dual read: Could be blocks for OTC flows

Read-through: Adds limited downside protection, higher put IV

MSFT 2026-04-22 $427.50 Call

Vol: 28,939

OI: 855

Vol/OI: 33.9x

IV: 24.6%

Notional: ~$4.8M

Intent: Additional call accumulation

Dual read: Possible spread leg

Read-through: Contributes to pinning around 427-430

MSFT 2026-04-22 $427.50 Put

Vol: 4,411

OI: 163

Vol/OI: 27.1x

IV: 24.2%

Notional: ~$2.1M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MSFT 2026-04-22 $420.00 Put

Vol: 15,017

OI: 680

Vol/OI: 22.1x

IV: 25.4%

Notional: ~$2.3M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MSFT 2026-04-22 $430.00 Call

Vol: 65,677

OI: 4,001

Vol/OI: 16.4x

IV: 24.3%

Notional: ~$6.2M

Intent: Heavy upside call buying

Dual read: Could be large spreads or dealer sells

Read-through: Material bullish call flow, increases call-side GEX

Institutional Positioning

Call additions: Concentrated open interest at 425–435 calls; flow could reflect buys but also short-call spreads or structured trades—interpret probabilistically.

Put additions: Put interest around 415–425 is smaller than calls; some high prints may be flow, hedges, or short-dated protection.

GEX/DEX consistency: Aggregate +$326.5M GEX and +95.8M DEX tilt toward dealer hedging that can support pinning/bullish outcomes, but totals do not prove directionality alone.

OI clusters: Largest OI: 425C 4,857; 430C 4,001; 432.5C 1,537; puts: 415P 1,239; 422.5P 793.

Hedging evidence: Patterns consistent with dealer delta-hedging and gamma exposure; could also reflect short-call spread placement or collars.

Max pain context: Max pain ~425–430; current spot near that band increases probability of pinning but alternative trade constructions could blunt pinning.

Signal vs Noise

~Signal: concentrated 425–435 call OI plus GEX/DEX tilt increases probability of pinning/bullish skew, but not certain.

~Signal: DEX buying corroborates institutional involvement—confirm by checking buy/sell prints and spread vs outright activity.

~Noise: large call OI may be short-call spreads or hedged structures; verify trade type and roll/decay patterns before firming bias.

Key Conclusions

📈Probable bullish/pinning bias given call OI + GEX/DEX, but treat as conditional until trade directionality (buy vs sell, spreads) is confirmed.

⚠️Watch 415–422.5 put OI and isolated put prints as downside protection or tactical hedges that could increase short-term risk.

How to Use These Reports

This flow reflects the market close on April 21, 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.