May 19, 2021 Terry’s Tips Trade Alert - Earnings  Eagle Portfolio

TGT is gaining strength after earnings, up 4.6%. We are raising delta by cashing in lower-strike put spreads and rolling some strikes higher:

BTC 1 TGT 21May21 190 put  (TGT210521P190)
STC 1 TGT 25Jun21 190 put (TGT210625P190) for a credit of $1.25 (selling a calendar) (100%)

BTC 1 TGT 21May21 195 put  (TGT210521P195)
STC 1 TGT 25Jun21 195 put (TGT210625P195) for a credit of $0.60 (selling a calendar) (100%)

BTC 1 TGT 21May21 200 put  (TGT210521P200)
STO 1 TGT 21May21 215 put  (TGT210521P215)
BTO 1 TGT 25Jun21 215 put (TGT210625P215)
STC 1 TGT 25Jun21 200 put (TGT210625P200) for a debit of $1.85 (buying a vertical roll) (100%)

BTC 1 TGT 21May21 210 call  (TGT210521C210)
STO 1 TGT 21May21 220 call  (TGT210521C220)
BTO 1 TGT 25Jun21 220 call (TGT210625C220)
STC 1 TGT 25Jun21 210 call (TGT210625C210) for a credit of $0.10 (selling a vertical roll) (100%)


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

Happy trading.

Terry