June 23, 2020 Terry’s Tips Trade Alert – Honey  Badger Portfolio

We have become uncomfortable long:

BTC 2 IBM 26Jun20 125 puts (IBM200626P125)
STO 2 IBM 26Jun20 120 puts (IBM200626P120)
BTO 2 IBM 16Oct20 120 puts (IBM201016P120)
STC 2 IBM 16Oct20 125 puts (IBM201016P125) for a debit of $1.10 (buying a vertical roll)

BTC 1 IBM 26Jun20 125 call (IBM200626C125)
STO 1 IBM 26Jun20 120 call (IBM200626C120)
BTO 1 IBM 16Oct20 120 call (IBM201016C120)
STC 1 IBM 16Oct20 125 call (IBM201016C125) for a debit of $1.20 (selling a vertical roll)


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

Happy trading.

Terry