December 14, 2018 Terry’s Tips Trade Alert #2 – Rising Tide Portfolio – limit order change

There are huge bid-ask spreads for both sides of this spread and it is difficult to figure a reasonable limit, so we will lower it by $.05, wait two minutes, and lower it again by $.05 and wait two minutes, and continue with this pattern until it executes:

 

BTC 2 JNJ 14Dec18 150 puts (JNJ181214P150)
STC 2 JNJ 18Apr19 150 puts (JNJ190418P150) for a credit limit of $1.35 (selling a calendar)

Be prepared to change these price limits by $.05 or more in order to get an execution.

Happy trading.

Terry