I am short Microsoft Corporation (NASDAQ:MSFT) via November 2017 puts, strike of $72.50. I took this position because it has been a successful trade for more than a year. Investors and traders are able to short (buy puts) at the top of the channel and cover (sell) at the low end of the channel. The chart below shows this beautifully. Already, Microsoft Corp has begun to pull back and should continue until the stock price hits $69.00.