MSFT options strategies, priced on the real chain
Institutional-quality chain with a well-behaved vol surface — low-20s IV outside of earnings, a modest dividend, and enough open interest at round strikes that spreads fill near mid.
Every page below prices its structure against the August 28, 2026 expiry — 31% at-the-money implied vol, #15 of the 20 underlyings on this site. What moves MSFT: quarterly earnings and Azure growth guidance; a quiet name between prints.
The August 28, 2026expiry this analysis was built on has passed, so the contracts quoted below no longer trade. The structure and the strike-selection logic still hold; the prices do not. Open the builder for today’s strikes on the real chain.
10 strategies on MSFT
One contract (or one 100-share lot) per structure, at-the-money template strikes on the August 28, 2026expiry. Breakevens and probability of profit come from OptionTracker’s engine.
Start here
- MSFT covered callSell upside on shares you already own and get paid for the cap. · breakeven $458.02 (−1.4%)
- MSFT cash-secured putGet paid to place a limit order below the market. · breakeven $441 (−5.1%)
- MSFT iron condorSell a range, buy the wings, collect if the stock stays put. · breakeven $427.55 (−8.0%)
- MSFT bull call spreadBuy a call, sell a higher one — cheaper upside with a ceiling. · breakeven $474.5 (+2.1%)
- MSFT bull put spreadSell a put spread below the market: credit now, defined risk. · breakeven $445.1 (−4.2%)
- MSFT long straddleBuy the call and the put — pay for a move in either direction. · breakeven $429.22 (−7.6%)
Related reading
- Covered call assignment: getting called awayGetting called away is not a glitch. You sold 100 shares at the strike the day you wrote the call. Here is that sale on a real AAPL chain, with the premium still attached.
- Early assignment and the ex-dividend dateEx-dividend week, short calls, panic. On a real KO chain the remaining extrinsic is larger than the dividend the engine implies over the whole window. Here is that comparison, and when early assignment actually shows up.
- Covered call vs selling the shares: real mathEvery covered-call seller has been asked why they don't just sell the stock. Fair question. One ticker, one chain, both exits priced — including the Friday the call does exactly what you sold it to do.