[MSFT Position Strategy] Microsoft's earnings report is out. Next, option IV will drop, and one-year IV will return to around 33. You can continue to go for long-term calls. Just like Google, after the earnings report, options can't be sold at a good price. Pair it with puts for hedging, and only consider short covered calls if it goes up to 440-450. Otherwise, there's not much money to be made.