January 4, 2021 Terry’s Tips Trade Alert - Wiley Wolf Portfolio

We need to lower delta with the stock down 3% today:

BTC 2 MSFT 15Jan21 220 puts (MSFT210115P220) 
STO 2 MSFT 15Jan21 212.5 puts (MSFT210115P212.5) for a debit of $3.80 (buying a vertical) (100%)

BTC 2 MSFT 15Jan21 220 calls (MSFT210115C220) 
STO 2 MSFT 15Jan21 215 calls (MSFT210115C215) for a credit of $2.25 (selling a vertical) (33%)


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

Happy trading.

Terry