January 3, 2020 Terry’s Tips Trade Alert #6 – Rising Tide Portfolio

Finally, we will free up some value locked in our long 295 puts to buy more calendars and nudge delta into positive territory:
 
BTO 4 COST 21Feb20 290 puts (COST200221P290)
STC 4 COST 21Feb20 295 puts (COST200221P295) for a credit of $2.40 (selling a vertical)

BTO 2 COST 21Feb20 300 calls (COST200221C300)
STO 2 COST 10Jan20 300 calls (COST200110C300) for a debit of $3.00 (buying a calendar)

BTO 1 COST 14Feb20 297.5 call (COST200214C297.5)
STO 1 COST 10Jan20 297.5 call (COST200110C297.5) for a debit of $3.10 (buying a calendar)


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

Happy trading.

Terry