August 3, 2020 Terry’s Tips Trade Alert  – Wiley Wolf Portfolio

With MSFT up sharply at the open, we have become overly negative net delta:

BTC 5 MSFT 21Aug20 202.5 calls (MSFT200821C202.5)
STO 5 MSFT 21Aug20 217.5 calls (MSFT200821C217.5) for a debit of $8.50 (buying a vertical)

BTC 2 MSFT 21Aug20 200 calls (MSFT200821C200)
STC 2 MSFT 20Nov20 200 calls (MSFT201120C200) for a credit of $7.90 (selling a calendar)

BTC 4 MSFT 21Aug20 205 calls (MSFT200821C205)
STO 4 MSFT 21Aug20 215 calls (MSFT200821C215) for a debit of $5.70 (buying a vertical)

BTO 6 MSFT 20Nov20 220 calls (MSFT201120C220)
STC 6 MSFT 20Nov20 200 calls (MSFT201120C200) for a credit of $10.60 (selling a vertical)

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

Happy trading.

Terry