July 14, 2020 Terry’s Tips Trade Alert  – Wiley Wolf Portfolio

We need to reduce delta:

BTC 3 MSFT 17Jul20 220 calls (MSFT200717C220)
STC 3 MSFT 16Oct20 220 calls (MSFT201016C220) for a credit of $7.30 (selling a calendar)

BTC 3 MSFT 17Jul20 217.5 calls (MSFT200717C217.5)
STO 3 MSFT 17Jul20 205 calls (MSFT200717C205)
BTO 3 MSFT 16Oct20 205 calls (MSFT201016C205)
STC 3 MSFT 16Oct20 215 calls (MSFT201016C215) for a debit of $1.90 (selling a vertical roll)

BTC 2 MSFT 17Jul20 217.5 puts (MSFT200717P217.5)
STO 2 MSFT 17Jul20 200 puts (MSFT200717P200) for a debit of $13.10 (buying a vertical)

BTO 2 MSFT 16Oct20 200 puts (MSFT201016P200)
STC 2 MSFT 16Oct20 220 puts (MSFT201016P220) for a credit of $11.30 (selling a vertical)

BTC 4 MSFT 17Jul20 215 puts (MSFT200717P215)
STO 4 MSFT 17Jul20 195 puts (MSFT200717P195) for a debit of $11.50 (buying a vertical)

BTO 2 MSFT 16Oct20 195 puts (MSFT201016P195)
STC 2 MSFT 16Oct20 220 puts (MSFT201016P220) for a credit of $13.50 (selling a vertical)

BTO 1 MSFT 16Oct20 195 put (MSFT201016P195)
STC 1 MSFT 16Oct20 215 put (MSFT201016P215) for a credit of $10.30 (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