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

With plenty of excess cash, we can establish new calendar spreads that extend to September. And we can start rolling out some long positions from July to September. This will add delta, which has become negative on MSFT’s strength this morning:
 
BTO 2 MSFT 18Sep20 175 puts (MSFT200918P175)
STO 2 MSFT 28Feb20 175 puts (MSFT200228P175) for a debit of $7.80 (buying a calendar)

BTO 1 MSFT 18Sep20 180 call (MSFT200918C180)
STO 1 MSFT 28Feb20 180 call (MSFT200228C180) for a debit of $8.00 (buying a calendar)

BTO 1 MSFT 18Sep20 180 call (MSFT200918C180)
STC 1 MSFT 17Jul20 180 call (MSFT200717C180) for a debit of $2.05 (buying a calendar)

BTO 2 MSFT 18Sep20 175 puts (MSFT200918P175)
STC 2 MSFT 17Jul20 175 puts (MSFT200717P175) for a debit of $1.95 (buying a calendar)


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

Happy trading.

Terry