May 28, 2020 Terry’s Tips Trade Alert  – Rising Tide Portfolio

COST is up 1.3% today, which has made us net negative delta. We will adjust some strikes higher to get more neutral ahead of tonight’s earnings report:

BTC 1 COST 29May20 300 put (COST200529P300)
STO 1 COST 29May20 310 put (COST200529P310)
BTO 1 COST 17Jul20 310 put (COST200717P310)
STC 1 COST 17Jul20 300 put (COST200717P300) for a debit of $0.60 (buying a vertical roll)

BTC 1 COST 29May20 305 call (COST200529C305)
STO 1 COST 29May20 315 call (COST200529C315)
BTO 1 COST 17Jul20 315 call (COST200717C315)
STC 1 COST 17Jul20 305 call (COST200717C305) for a credit of $0.45 (selling a vertical roll)

BTC 2 COST 29May20 302.5 calls (COST200529C302.5)
STO 2 COST 29May20 312.5 calls (COST200529C312.5) for a debit of $5.90 (buying a vertical)

BTO 1 COST 17Jul20 320 call (COST200717C320)
STC 1 COST 17Jul20 300 call (COST200717C300) for a credit of $10.70 (selling a vertical)

BTC 1 COST 29May20 302.5 put (COST200529P302.5)
STO 1 COST 29May20 312.5 put (COST200529P312.5)
BTO 1 COST 17Jul20 315 put (COST200717P315)
STC 1 COST 17Jul20 305 put (COST200717P305) for a debit of $0.40 (buying a vertical roll)


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

Happy trading.

Terry