July 1, 2020 Terry’s Tips Trade Alert – Wiley Wolf Portfolio

We need to raise delta:

BTC 2 MSFT 10Jul20 197.5 calls (MSFT200710C197.5)
STO 2 MSFT 10Jul20 207.5 calls (MSFT200710C207.5)
BTO 2 MSFT 16Oct20 205 calls (MSFT201016C205)
STC 2 MSFT 16Oct20 195 calls (MSFT201016C195) for a debit of $0.40 (selling a vertical roll)

BTC 1 MSFT 10Jul20 197.5 call (MSFT200710C197.5)
STO 1 MSFT 10Jul20 207.5 call (MSFT200710C207.5)
BTO 1 MSFT 16Oct20 210 call (MSFT201016C210)
STC 1 MSFT 16Oct20 200 call (MSFT201016C200) for a debit of $1.00 (selling a vertical roll)

BTC 2 MSFT 10Jul20 192.5 puts (MSFT200710P192.5)
STO 2 MSFT 10Jul20 197.5 puts (MSFT200710P197.5)
BTO 2 MSFT 16Oct20 200 puts (MSFT201016P200)
STC 2 MSFT 18Sep20 195 puts (MSFT200918P195) for a debit of $3.20 (buying a custom vertical roll)

BTC 1 MSFT 10Jul20 195 put (MSFT200710P195)
STO 1 MSFT 10Jul20 205 put (MSFT200710P205)
BTO 1 MSFT 18Sep20 210 put (MSFT200918P210)
STC 1 MSFT 18Sep20 200 put (MSFT200918P200) for a debit of $2.00 (buying a vertical roll)

BTC 1 MSFT 10Jul20 195 put (MSFT200710P195)
STO 1 MSFT 10Jul20 205 put (MSFT200710P205)
BTO 1 MSFT 16Oct20 200 put (MSFT201016P200)
STC 1 MSFT 16Oct20 190 put (MSFT201016P190) for a debit of $0.90 (buying a vertical roll)


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

Happy trading.

Terry