June 23, 2020 Terry’s Tips Trade Alert – Wiley Wolf Portfolio

We have become negative net delta. We will start rolling out our shorts to the July 10 series (two weeks), as this is the week before MSFT earnings:

BTC 4 MSFT 26Jun20 192.5 puts (MSFT200626P192.5)
STO 4 MSFT 10Jul20 200 puts (MSFT200710P200) for a credit of $3.80 (selling a diagonal)

BTO 3 MSFT 16Oct20 200 puts (MSFT201016P200)
STC 3 MSFT 18Sep20 190 puts (MSFT200918P190) for a debit of $5.70 (buying a diagonal)

BTC 1 MSFT 26Jun20 195 put (MSFT200626P195)
STC 1 MSFT 18Sep20 195 put (MSFT200918P195) for a credit of $9.15 (selling a calendar)


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

Happy trading.

Terry