July 21, 2020 Terry’s Tips Trade Alert  – Rising  Tide Portfolio

As discussed in the Saturday Report, we will be withdrawing $8,000 from the Rising Tide portfolio later this week to get down to around the $8,000 level that we began the year with. Since we’ve become negative net delta, we’ll sell some lower-strike spreads to raise both cash and delta:

BTC 2 COST 24Jul20 320 puts (COST200724P320)
STC 2 COST 21Aug20 320 puts (COST200821P320) for a credit of $3.70 (selling a calendar)

BTC 1 COST 24Jul20 322.5 put (COST200724P322.5)
STC 1 COST 21Aug20 320 put (COST200821P320) for a credit of $3.50 (selling a diagonal)

BTC 2 COST 24Jul20 322.5 puts (COST200724P322.5)
STC 2 COST 21Aug20 325 puts (COST200821P325) for a credit of $5.20 (selling a diagonal)


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

Happy trading.

Terry