Microsoft Gets Bullish Boost from Options Traders
Microsoft has received a bullish boost from options traders as of late, according to data from the Options Action team. The tech giant's stock price has been on a steady climb since the start of the year, with some analysts attributing this trend to Microsoft's strong quarterly earnings report.
The company reported a 21% increase in revenue for its fiscal third quarter, beating analyst estimates and sending shares up by more than 4% in one day. This surge has caught the attention of options traders, who are now betting on further gains for the stock.
According to data from CNBC's Options Action team, Microsoft's call-to-put ratio is currently at its highest level since June, indicating a strong bullish bias among option traders. The team notes that this trend could continue if Microsoft's stock price continues to rise above $230 per share.