Microsoft (NASDAQ: MSFT) is scheduled to report Q3 EPS on April 24. Smith Barney says, "Buy ahead of Earnings – With all the focus on the potential Yahoo! (NASDAQ: YHOO) transaction and with MSFT -11% since its announcement, investors appear to be ignoring the strength of MSFT's underlying fundamentals." MSFT May option implied volatility of 33 is above its 26-week average of 30 according to Track Data, suggesting larger price movement.
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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