January 20, 2021 Terry’s Tips Trade Alert – Earnings  Eagle Portfolio

With PG down 1.4% today – less than the option market predicted – we will take our highest-strike spreads off the table to reduce delta:

BTC 3 PG 22Jan21 135 puts (TGT210122P135)
STC 3 PG 19Feb21 135 puts (TGT210219P135) for a credit of $0.95 (selling a calendar) (100%)

BTC 3 PG 22Jan21 137 puts (TGT210122P137)
STC 3 PG 19Feb21 137 puts (TGT210219P137) for a credit of $0.55 (selling a calendar) (100%)

BTC 3 PG 22Jan21 138 puts (TGT210122P138)
STC 3 PG 19Feb21 138 puts (TGT210219P138) for a credit of $0.40 (selling a calendar) (100%)


Be prepared to change this (these) price limit(s) by $.05 or more in order to get an execution.

Happy trading.

Terry