Subject: July 25, 2018 Terry’s Tips Trade – Wiley Wolf Portfolio
July 25, 2018 Terry’s Tips Trade – Wiley Wolf Portfolio
The stock continues to rise, and we should move the lowest-strike short calls to a higher strike;
BTC 7 FB 27Jul18 212.5 calls (FB180727C212.5)
STO 7 FB 27Jul18 222.5 calls (FB180727C222.5) for a debit of $5.50 (buying a vertical)
BTO 4 FB 24Aug18 222.5 calls (FB180824C222.5)
STC 4 FB 24Aug18 207.5 calls (FB180824C207.5) for a credit of $8.62 (selling a vertical)
BTO 1 FB 31Aug18 222.5 call (FB180831C222.5)
STC 1 FB 31Aug18 207.5 call (FB180831C207.5) for a credit of 8.70 (selling a vertical)
Be prepared to change these price limits by $.05 or more in order to get an execution.
Happy trading.
Terry
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