April 21, 2020 Terry’s Tips Trade Alert – Wiley Wolf Portfolio

We need to reduce delta:
 
BTC 1 MSFT 24Apr20 185 call (MSFT200424C185)
STO 1 MSFT 24Apr20 170 call (MSFT200424C170)
BTO 1 MSFT 18Sep20 170 call (MSFT200918C170)
STC 1 MSFT 18Sep20 185 call (MSFT200918C185) for a debit of $3.40 (selling a vertical roll)

BTC 2 MSFT 24Apr20 180 puts (MSFT200424P180)
STO 2 MSFT 24Apr20 165 puts (MSFT200424P165)
BTO 2 MSFT 18Sep20 165 puts (MSFT200918P165)
STC 2 MSFT 18Sep20 180 puts (MSFT200918P180) for a debit of $1.25 (selling a vertical roll)

BTC 1 MSFT 24Apr20 185 call (MSFT200424C185)
STC 1 MSFT 18Sep20 190 call (MSFT200918C190) for a credit of $8.10 (selling a diagonal)

BTC 1 MSFT 24Apr20 182.5 call (MSFT200424C182.5)
STO 1 MSFT 24Apr20 170 call (MSFT200424C170)
BTO 1 MSFT 18Sep20 170 call (MSFT200918C170)
STC 1 MSFT 18Sep20 180 call (MSFT200918C180) for a debit of $1.40 (selling 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