November 23, 2020 Terry’s Tips Trade Alert – Earnings  Eagle Portfolio

We have become negative net delta, so we will use our excess cash to raise some strikes and add spreads:

BTC 2 TGT 04Dec20 170 calls  (TGT201204C170)
STO 2 TGT 04Dec20 182.5 calls  (TGT201204C182.5) for a debit of $5.80 (buying a vertical) (100%)

BTO 1 TGT 15Jan21 190 call  (TGT210115C190)
STC 1 TGT 15Jan21 175 call  (TGT210115C175) for a credit of $5.20 (selling a vertical) (8%)

BTO 1 TGT 15Jan21 185 call  (TGT210115C185)
STC 1 TGT 15Jan21 175 call  (TGT210115C175) for a credit of $4.00 (selling a vertical) (9%)

BTO 1 TGT 15Jan21 170 put  (TGT210115P170)
STO 1 TGT 04Dec20 172.5 put  (TGT201204P172.5) for a debit of $3.15 (buying a diagonal)

BTO 1 TGT 15Jan21 175 put  (TGT210115P175)
STO 1 TGT 04Dec20 175 put  (TGT201204P175) for a debit of $4.20 (buying a calendar)

BTO 1 TGT 15Jan21 180 call  (TGT210115C180)
STO 1 TGT 04Dec20 180 call  (TGT201204C180) for a debit of $4.00 (buying a calendar)


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

Happy trading.

Terry