July 11, 2019 Terry’s Tips Trade Alert – Wiley Wolf Portfolio

Gamma is dangerously higher than net delta so we should do some preventative damage control and get some short options to higher strikes:

BTC 2 MSFT 12Jul19 137 calls (MSFT190712C137)
STO 2 MSFT 19Jul19 139 calls (MSFT190719C139) for a credit of $.46 (selling a diagonal)

BTO 3 MSFT 20Sep19 140 calls (MSFT190920C140)
STO 3 MSFT 19Jul19 140 calls (MSFT190719C140) for a debit of $2.54 (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