November 19, 2020  Terry’s Tips Trade  Alert  –  Honey Badger Portfolio

 

The stock has fallen steadily, making us extremely positive net delta and making assignments on our short puts likely.  We need to make some wholesale changes:

 

BTC 1 AZN 20Nov20 57 call (AZN201120C57) for $.05 (100%)

 

BTC 1 AZN 20Nov20 57.5 call (AZN201120C57.5) for $.05 (100%)

 

BTC 2 AZN 20Nov20 58 calls (AZN201120C58) for $.05 (100%)

 

BTC 2 AZN 20Nov20 58.5 calls (AZN201120C58.5) for $.05 (100%)

 

STO 4 AZN 04Dec20 55 calls (AZN201204C55) for $.95

 

STO 2 AZN 11Dec20 55 calls (AZN201211C55) for $1.25

 

BTC 3 AZN 20Nov20 57.5 puts (AZN201120P57.5) (100%)
STC 3 AZN 15Jan21 57.5 puts (AZN210115P57.5) for a credit of $1.75 (selling a calendar) (50%)

BTC 3 AZN 20Nov20 57 puts (AZN201120P57) (100%)

STO 3 AZN 04Dec20 55 puts (AZN201204P55) for a debit of $.26 (selling a diagonal)

 

BTC 2 AZN 20Nov20 55 puts (AZN201120P55) (100%)

STO 2 AZN 04Dec20 54 puts (AZN201204P54) for a credit of $.20 (selling a diagonal)

 

BTO 3 AZN 16Apr21 55 puts (AZN210416P55)

STC 3 AZN 15Jan21 57.5 puts (AZN210115P57.5) for a debit of $.45 (buying a diagonal) (100%)

 

BTO 3 AZN 16Apr21 55 calls (AZN210416C55)

STC 3 AZN 16Apr21 57.5 calls (AZN210416C57.5) for a debit of $.95  (buying a vertical) (100%)

 

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

Happy trading.

Terry