February 11, 2020 Terry’s Tips Trade Alert #2 – Rising Tide Portfolio

We remain too positive net delta. We have the cash to roll down the highest-strike short put and roll out our two long March 13 puts to April:

BTC 1 COST 14Feb20 315 put (COST200214P315)
STO 1 COST 14Feb20 310 put (COST200214P310) for a debit of $2.60 (buying a vertical)

BTO 1 COST 17Apr20 310 put (COST200417P310)
STC 1 COST 13Mar20 315 put (COST200313P315) for a credit of $0.45 (buying a diagonal)

BTO 1 COST 17Apr20 320 put (COST200417P320)
STC 1 COST 13Mar20 320 put (COST200313P320) for a debit of $1.80 (buying a calendar)

BTC 2 COST 14Feb20 317.5 calls (COST200214C317.5)
STO 2 COST 14Feb20 312.5 calls (COST200214C312.5) for a credit of $1.50 (selling a vertical)


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

Happy trading.

Terry