February 27, 2020 Terry’s Tips Trade Alert – Wiley Wolf Portfolio

We can reduce delta by rolling out and down the deepest in-the-money short put:

BTC 2 MSFT 28Feb20 175 puts (MSFT200228P175)
STO 2 MSFT 06Mar20 165 puts (MSFT200306P165) for a debit of $4.85 (selling a diagonal)

BTO 1 MSFT 17Jul20 175 put (MSFT200717P175)
STC 1 MSFT 17Jul20 185 put (MSFT200717P185) for a credit of $6.60 (selling a vertical)

BTO 1 MSFT 17Jul20 175 put (MSFT200717P175)
STC 1 MSFT 17Jul20 180 put (MSFT200717P180) for a credit of $3.10 (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