Active trading in Microsoft options as shares reach new highs
Active trading in Microsoft options as shares reach new highs. The stock up $1.06 to $72.84 and the largest trade is 7.8K Jul 74 - 76, 1X2, call spreads sold at 24c. The Jul 76 calls were bought to open and the other leg likely closes a matching trade from 7/7 when the stock was near $70 and 8K bought for 21c. The activity was rolling 4K Jul 72.5 calls at that time. Now the position is being rolled higher, while doubling position size, one again. It expresses a bullish one week outlook for Microsoft and its 7/20 earnings report. 21K Jul 76 calls and 17K Jul 74 calls traded on the day. Total volume is double the daily average and lopsided 2:1 at 104K calls and 51K puts.