July 8, 2020 Terry’s Tips Trade Alert – Honey  Badger Portfolio

To lower delta, we will begin rolling out to next week. IBM reports earnings on July 20, so we will have two opportunities to roll to take advantage of increased volatility heading into the report:

BTC 1 IBM 10Jul20 122 call (IBM200710C122)
STO 1 IBM 17Jul20 117 call (IBM200717C117) for a credit of $2.30 (selling a diagonal)

BTC 1 IBM 10Jul20 123 call (IBM200710C123)
STO 1 IBM 17Jul20 118 call (IBM200717C118) for a credit of $1.80 (selling a diagonal)

BTO 1 IBM 16Oct20 115 call (IBM201016C115)
STC 1 IBM 16Oct20 125 call (IBM201016C125) for a debit of $4.60 (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