June 17, 2020 Terry’s Tips Trade Alert #2 – Wiley Wolf Portfolio

We remain negative net delta:

BTC 1 MSFT 26Jun20 185 put (MSFT200626P185)
STC 1 MSFT 18Sep20 185 put (MSFT200918P185) for a credit of $7.60 (selling a calendar)

BTC 1 MSFT 26Jun20 185 put (MSFT200626P185)
STO 1 MSFT 26Jun20 195 put (MSFT200626P195)
BTO 1 MSFT 18Sep20 195 put (MSFT200918P195)
STC 1 MSFT 18Sep20 185 put (MSFT200918P185) for a debit of $1.65 (buying a vertical roll)

BTC 2 MSFT 26Jun20 187.5 puts (MSFT200626P187.5)
STO 2 MSFT 26Jun20 197.5 puts (MSFT200626P197.5) for a credit of $3.20 (selling a vertical)

BTC 1 MSFT 26Jun20 187.5 put (MSFT200626P187.5)
STO 1 MSFT 26Jun20 195 put (MSFT200626P195) for a credit of $2.00 (selling a vertical)

BTO 2 MSFT 18Sep20 200 puts (MSFT200918P200)
STC 2 MSFT 18Sep20 190 puts (MSFT200918P190) for a debit of $4.60 (buying a vertical)



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

Happy trading.

Terry