could gap up or down into either level.
Here are a few strategies you could consider over .
a) 2 debit spreads:
Buy to open the $53 Aug put and sell to open the $50 Aug put ($3.00 max reward) cost of $1.00
And then same thing with calls BTO $54 Aug Cals and STO $57 cost would be .90 and reward $3.00
b) Aug Iron condor STO 57 / BTO 58 calls STO 50 / BTO / 49 Puts for .20 limit.
MSFT could gap into either strong price. Candle does look today. A small gap above $54.50 would probably cause MSFT to trade higher.