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Microsoft CorporationClose $432.92EOD only
Max Pain
$402.50
Next expiry Apr 24, 2026
Expected Move
±$8.62
2.0% from close
Price Gap
-30.42
Distance to max pain
IV Rank
42
Middle-high premium
P/C OI
0.46
Slightly call-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Apr 22, 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 22, 2026 close
MSFT Flow Report
Analysis based on market close April 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Flow Verdict

BiasBullish
Confirmation: Large near‑term call prints (420–422.5, exp 4/24–4/27), +$214.9M GEX and +91.8M dex flow, pinning regime and spot above MP reinforce upside bias.
Invalidation: Sustained slide below clustered put strikes around 412–415, sharp VIX jump or reversal of GEX/flow net from + to - would negate bullish view.
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.4% from MP; +0.5 VIX 19

Watch next session: Monitor 4/24 expirations (420–422.5) and 4/27 flows; Spot relative to MP and any rapid VIX move; Changes in GEX magnitude or dex outflow

Flow Summary

Net premium: +$175.4M bullish

P/C volume ratio: 0.48

P/C OI ratio: 0.46

Options flow and GEX strongly aligned bullish with concentrated near‑term call demand and sizable pinning put OI; watch expiries and any volatility spike that erodes positive gamma.

Notable Prints

#1
MSFT 2026-05-29 $410.00 Put
Vol: 6,254
OI: 262
Vol/OI: 23.9x
IV: 36.7%
Notional: ~$9.9M
Intent: long-dated bearish hedge
Dual read: portfolio hedge vs long-term income

Read-through: tail downside protection

#2
MSFT 2026-04-24 $422.50 Call
Vol: 32,191
OI: 2,509
Vol/OI: 12.8x
IV: 27.5%
Notional: ~$3.3M
Intent: same-day directional call demand
Dual read: gamma-driven flow vs speculative buy

Read-through: concentrates upside pinning

#3
MSFT 2026-04-24 $417.50 Call
Vol: 17,634
OI: 1,726
Vol/OI: 10.2x
IV: 27.1%
Notional: ~$4.4M
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#4
MSFT 2026-04-27 $422.50 Call
Vol: 6,380
OI: 651
Vol/OI: 9.8x
IV: 24.8%
Notional: ~$1.4M
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#5
MSFT 2026-04-24 $412.50 Put
Vol: 14,548
OI: 1,551
Vol/OI: 9.4x
IV: 26.1%
Notional: ~$2.5M
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: short-dated calls clustered 417.5–425 (4/24–4/27); largest 420C OI ~6.5k

Put additions: heavy short-dated puts 412.5–415–407.5 (4/24); notable long-dated 410P flow but low OI so limited immediate delta

GEX/DEX consistency: GEX +$215M and DEX +91.8M are consistent with dealer gamma exposure and potential pinning pressure, but intraday flow and liquidity can shift outcomes

OI clusters: 420C(6.5k),415P(3.3k),422.5C(2.5k),425C(1.4k)

Hedging evidence: evidence of put buying and collars around 412–415; hedges present but not overwhelming

Max pain context: Max pain ~415–420; spot ~1.4% above MP which could reduce certainty of a strict pin at expiry

Signal vs Noise

~Signal: concentrated short-dated call OI 420–425 increases pin risk around those strikes
~Signal: positive GEX/DEX aligns with dealer gamma selling but is conditional on steady spot and liquidity
~Noise: long-dated 5/29 410P showed volume but low OI—limited immediate impact

Key Conclusions

📌Probable pin zone 415–420 given short-dated call concentrations and positive GEX, but outcome depends on intraday flow and liquidity
⚠️4/24 put activity and low-OI long-dated puts suggest hedging and noise; monitor EOD execution and expiry dynamics
How to Use These Reports
This flow reflects the market close on April 23, 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.