Nine days of gains. Then this. All four indices are in the red and Microsoft is lagging on top of that down today without having participated much in the rally either.

That setup is exactly what this trade looks for. IV rank on MSFT is at 58, which is high for this name. The trade: buy the 405 put, sell two 395 puts in the July cycle with 44 days to go. That gets filled for a $3.30 credit, an 82% probability of profit, and a break-even at $382, a level that would represent all-time lows on the chart. Max profit sits at $1,340 on $5,600 of buying power. The real goal is a couple hundred dollars in the next week or two.