Microsoft (MSFT) produced excellent results on April 25 for its fiscal Q3 ending March 31. Moreover, the $3 trillion market cap software company showed higher free cash flow (FCF) despite increased capex spending based on its focus on integrating artificial intelligence (AI) into its product line. This makes MSFT look undervalued here and provides a good opportunity for out-of-the-money (OTM) short-put investors. As a result, MSFT stock is trading about 2.0% higher in morning trading on April 26 at $409 per share. For example, in a recent April 12 Barchart article, I wrote that MSFT could be w…