July 20, 2020 Terry’s Tips Trade Alert  – Honey  Badger Portfolio

These trades will increase delta and theta ahead of tonight’s IBM earnings release:

BTC 1 IBM 24Jul20 122 call (IBM200724C122)
STO 1 IBM 24Jul20 127 call (IBM200724C127)
BTO 1 IBM 16Oct20 125 call (IBM201016C125)
STC 1 IBM 16Oct20 120 call (IBM201016C120) for a debit of $0.10 (selling a vertical roll)

BTC 1 IBM 24Jul20 120 put (IBM200724P120)
STO 1 IBM 24Jul20 127 put (IBM200724P127) for a credit of $2.50 (selling a vertical)

BTC 1 IBM 24Jul20 125 put (IBM200724P125)
STO 1 IBM 24Jul20 128 put (IBM200724P128) for a credit of $1.40 (selling a vertical)

BTO 1 IBM 16Oct20 130 put (IBM201016P130)
STC 1 IBM 16Oct20 120 put (IBM201016P120) for a debit of $4.80 (buying a vertical)


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

Happy trading.

Terry