July 16, 2019 Terry’s Tips Trade Alert #2 – Wiley Wolf Portfolio

The stock is now down over $2 and we should roll short options to lower strikes:

BTC 1 MSFT 19Jul19 141 call (MSFT190719C141)
STC 1 MSFT 20Sep19 145 call (MSFT190920C145) for a credit of $1.04 (selling a diagonal)

BTC 1 MSFT 19Jul19 141 call (MSFT190719C141)
STO 1 MSFT 19Jul19 137 call (MSFT190719C137) for a credit of $1.51 (selling a vertical)

BTO 1 MSFT 30Aug19 136 put (MSFT190830P136)
STO 1 MSFT 19Jul19 136 put (MSFT190719P136) for a debit of $1.96 (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