Stocks quoted in this article:
Yesterday after the closing bell, it was announced that the U.S. Court of Appeals has decided to review the decision in the government's antitrust case against Microsoft (MSFT - 67-7/8). The move is seen as a small victory for MSFT, as the company has received favorable rulings in the appellate court in the recent past. In yesterday's trading, the deep out-of-the-money January 120 call was the most-active MSFT call option on the CBOE. The option's volume on Tuesday was mainly comprised of a spate of mid-afternoon activity. In a 15-minute span, approximately 4,000 contracts traded on the option, with all of the volume transacting at 5/8. From a short-term technical perspective, the shares have shown signs of life lately. The stock was able to find solid support from its 20-day moving average in yesterday's trading, rebounding to finish nearly two points off its low of the day.