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

We have become overly positive net delta:

BTC 1 MSFT 28Feb20 192.5 call (MSFT200228C192.5)
STC 1 MSFT 17Jul20 190 call (MSFT200717C190) for a credit of $7.55 (selling a diagonal)

BTC 4 MSFT 28Feb20 190 calls (MSFT200228C190)
STO 4 MSFT 28Feb20 182.5 calls (MSFT200228C182.5) for a credit of $1.70 (selling a vertical)

BTO 3 MSFT 17Jul20 180 calls (MSFT200717C180)
STC 3 MSFT 17Jul20 190 calls (MSFT200717C190) for a debit of $4.45 (buying a vertical)

BTC 3 MSFT 28Feb20 182.5 puts (MSFT200228P182.5)
STO 3 MSFT 28Feb20 177.5 puts (MSFT200228P177.5) for a debit of $2.15 (buying a vertical)

BTO 1 MSFT 18Sep20 175 put (MSFT200918P175)
STC 1 MSFT 18Sep20 185 put (MSFT200918P185) for a credit of $4.80 (selling a vertical)

BTO 1 MSFT 17Jul20 180 put (MSFT200717P180)
STC 1 MSFT 17Jul20 185 put (MSFT200717P185) for a credit of $2.60 (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