This is the Options traders expiring the January 28 calls worthless.
On monday if you did a buy write when the stock price was 28.14 the option premium yielded 1.7% if you were called with a break even at 27.60.
I made the trade with some suspicion thinking that might be too good to be true. I thought I was getting called this morning when it was only down to 28.20, now I will be writing more contracts next week :)
This is a great stock to sell weekly covered calls against.
They are shorting, doing a little covering and shorting again. They are taking this for a serious drubbing to the horror of the longs. This is not just MSFT. The big money is shorting this market today. 80 million in MSFT already. Going to be a big down day. Folks are just catching the falling knife. They have been doing this for some time on light volume and back it comes. Not today as they are doing this in a serious manner.