May 22, 2020  Terry’s Tips Trade Alert  – Earnings  Eagle  Portfolio

 

We will roll over the in-the-money short options and use the cash to buy some artificial calendars at lower strikes to reduce our too-high positive net delta:

 

BTC 11 TGT 22May20 120 puts (TGT200522P120)

STO 11 TGT 29May20 120 puts (TGT200529P120) for a credit of $1.07 (selling a calendar)

 

BTC 1 TGT 22May20 118 call (TGT200522C118)

STO 1 TGT 29May20 118 call (TGT200529C118) for a credit of $1.32 (selling a calendar)

 

BTC 1 TGT 22May20 118 call (TGT200522C118)

STO 1 TGT 29May20 117 call (TGT200522C117) for a credit of $1.92 (selling a diagonal)

 

BTO 1 TGT 17Jul20 120 put (TGT200717P120)
STO 1 TGT 29May20 118 put (TGT200529P118) for a debit of $4.85 (buying a diagonal)

 

BTO 2 TGT 17Jul20 115 puts (TGT200717P115)
STO 2 TGT 29May20 117 puts (TGT200529P117) for a debit of $3.07 (buying a diagonal)

 

BTC 5 TGT 22May20 123 calls (TGT200522C123) for $.01 (no commission)

 

STO 5 TGT 29May20 120 calls (TGT200522C120) for $1.20

 

BTO 3 TGT 17Jul20 120 calls (TGT200717C120)

STC 3 TGT 17Jul20 125 calls (TGT200717C125) for a debit of $2.17  (buying a vertical)

 

Be[Ta1]  prepared to change this (these) price limit(s) by $.05 or more in order to get an execution.

 

Happy trading.

Terry