April 15, 2020  Terry’s Tips Trade Alert  #2 –  Honey Badger  Portfolio

 

SPY is down more than $5 and MSFT is unchanged.  Clearly, it is outperforming the market, and our negative net delta is not the place to be:

 

BTC 3 MSFT 17Apr20 165 calls (MSFT200417C165)

STC 3 MSFT 01May20 165 calls (MSFT200501C165) for a credit of $3.20 (selling a calendar)

 

BTC 3 MSFT 17Apr20 165 calls (MSFT200417C165)

STO 3 MSFT 17Apr20 177.5 calls (MSFT200417C177.5)

BTO 3 MSFT 01May20 177.5 calls (MSFT200501C177.5)
STC 3 MSFT 01May20 165 calls (MSFT200501C165) for a debit of $,60 selling a vertical roll)

BTC 2 MSFT 17Apr20 165 calls (MSFT200417C165)

STO 2 MSFT 17Apr20 175 calls (MSFT200417C175)

BTO 2 MSFT 01May20 175 calls (MSFT200501C175)
STC 2 MSFT 01May20 165 calls (MSFT200501C165) for a debit of $1.00 selling a vertical roll)

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

Happy trading.

Terry