December 16, 2020 Terry’s Tips Trade Alert #3 - Wiley Wolf Portfolio

We continue rolling out our shorts to raise delta. We are now rolling out to the 31Dec series, as we anticipate having to liquidate most of the portfolio at year’s end to reset to the usual $10,000 to start the new year:

BTC 5 MSFT 18Dec20 210 puts (MSFT201218P210)
STO 5 MSFT 31Dec21 217.5 puts (MSFT201231P217.5) for a credit of $3.05 (selling a diagonal) (100%)

BTO 2 MSFT 19Mar21 215 puts (MSFT210319P215)
STC 2 MSFT 19Mar21 205 puts (MSFT210319P205) for a debit of $3.90 (buying a vertical) (66%)

BTO 1 MSFT 19Mar21 220 put (MSFT210319P220)
STC 1 MSFT 19Mar21 205 put (MSFT210319P205) for a debit of $6.35 (buying a vertical) (100%)


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

Happy trading.

Terry