Subject: March 25, 2020 Terry’s Tips Trade Alert – Earnings Eagle Portfolio
March 25, 2020 Terry’s Tips Trade Alert – Earnings Eagle Portfolio
With the stock down over $6, we have become uncomfortably long. We can roll over our highest-strike calls to next week and use the cash to add a new lower-strike spread, and both trades will reduce our net delta:
BTC 2 TGT 27Mar20 101 calls (TGT200327C101)
STO 2 TGT 03Apr20 101 calls (TGT200403C101) for a credit of $1.75 (selling a
calendar)
BTO 1 TGT 19Jun20 95 put
(TGT200619P95)
STO 1 TGT 27Mar20 94 put (TGT200327P94) for a debit of $6.98 (buying a
diagonal)
Be[Ta1] prepared to change this (these) price limit(s) by $.05 or more in order to get an execution.
Happy trading.
Terry
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