May 22, 2020  Terry’s Tips Trade Alert  - Honey Badger  Portfolio

 

We will roll the highest-strike spreads first to reduce net delta:

 

BTC 8 MSFT 22May20 187.5 puts (MSFT200522P187.5)

STO 8 MSFT 29May20 187.5 puts (MSFT200529P187.5) for a credit of $.82 (selling a calendar)

 

BTC 3 MSFT 22May20 187.5 calls (MSFT200522C187.5) for $.03 (no commission)

 

STO 3 MSFT 29May20 187.5 calls (MSFT200529C187.5) for $.90

 

BTO 4 MSFT 12Jun20 180 puts (MSFT200612P180)
STO 4 MSFT 29May20 180 puts (MSFT200529P180) for a debit of $2.25  (buying a calendar)

 

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

 

Happy trading.

Terry