July 17, 2020 Terry’s Tips Trade Alert  #2 – Honey  Badger Portfolio

We can use our excess cash to buy more spreads and raise delta:

BTC 1 IBM 24Jul20 123 call (IBM200724C123)
STO 1 IBM 24Jul20 128 call (IBM200724C128) for a debit of $2.60 (buying a vertical)

BTO 1 IBM 16Oct20 130 call (IBM201016C130)
STO 1 IBM 24Jul20 127 call (IBM200724C127) for a debit of $2.10 (buying a diagonal)

BTO 1 IBM 16Oct20 130 call (IBM201016C130)
STO 1 IBM 24Jul20 128 call (IBM200724C127) for a debit of $2.50 (buying a diagonal)

BTO 1 IBM 16Oct20 125 put (IBM201016P125)
STO 1 IBM 24Jul20 125 put (IBM200724P125) for a debit of $4.70 (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