Trader Unwinds $36 Million Microsoft Call Spreads Ahead of 2027 Expiry
A single trader recently unwound two bullish call spreads on Microsoft (NASDAQ:MSFT) for a combined credit of approximately $36 million. The options, which expire in December 2027 and span over 30,000 contracts, were among the largest trades recorded that day despite being far out of the money. The move comes amid mixed performance from Microsoft's stock, which has been flat for much of the past year but rose nearly 8% over the last month. The company reported strong Azure growth—reaching a $100 billion annualized run rate with 43% YoY revenue increase—and Copilot adoption reaching 30 million paid seats in its most recent earnings report. While one trader's exit is not necessarily indicative of broader market sentiment, it raises questions about whether the stock’s flat performance reflects a temporary pause or a deeper repricing. Broader options data shows bullish bias with low put/call ratios.
Tickers: $MSFT
Topics: call spreads Microsoft stock options trader activity