February 20, 2020 Terry’s Tips Trade Alert – Wiley Wolf Portfolio

We have become overly positive net delta:

BTC 2 MSFT 28Feb20 192.5 calls (MSFT200228C192.5)
STO 2 MSFT 28Feb20 185 calls (MSFT200228C185) for a credit of $1.60 (selling a vertical)

BTO 1 MSFT 17Jul20 185 call (MSFT200717C185)
STC 1 MSFT 17Jul20 195 call (MSFT200717C195) for a debit of $4.10 (buying a vertical)

BTO 1 MSFT 18Sep20 190 call (MSFT200918C190)
STC 1 MSFT 18Sep20 195 call (MSFT200918C195) for a debit of $1.95 (buying a vertical)

BTC 1 MSFT 28Feb20 187.5 put (MSFT200228P187.5)
STO 1 MSFT 28Feb20 182.5 put (MSFT200228P182.5) for a debit of $3.10 (buying a vertical)

BTC 2 MSFT 28Feb20 185 puts (MSFT200228P185)
STO 2 MSFT 28Feb20 180 puts (MSFT200228P180) for a debit of $2.35 (buying a vertical)

BTO 1 MSFT 18Sep20 175 put (MSFT200918P175)
STC 1 MSFT 18Sep20 190 put (MSFT200918P190) for a credit of $7.25 (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