August 20, 2020 Terry’s Tips Trade Alert  - Wiley Wolf Portfolio

We will raise delta  by starting to roll our shorts out four weeks. We will also begin rolling out our longs to December:

BTC 4 MSFT 21Aug20 202.5 puts (MSFT200821P202.5)
STO 4 MSFT 18Sep20 210 puts (MSFT200918P210) for a credit of $4.75 (selling a diagonal)

BTO 4 MSFT 18Dec20 210 puts (MSFT201218P210)
STC 4 MSFT 20Nov20 200 puts (MSFT201120P200) for a debit of $5.85 (buying a diagonal)

BTC 4 MSFT 21Aug20 205 puts (MSFT200821P205)
STO 4 MSFT 18Sep20 215 puts (MSFT200918P215) for a credit of $6.90 (selling a diagonal)

BTO 4 MSFT 20Nov20 215 puts (MSFT201120P215)
STC 4 MSFT 20Nov20 205 puts (MSFT201120P205) for a debit of $4.60 (buying a vertical)


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

Happy trading.

Terry