June 24, 2020 Terry’s Tips Trade Alert #2 – Wiley Wolf Portfolio

We need to reduce delta:

BTC 6 MSFT 26Jun20 202.5 calls (MSFT200626C202.5)
STO 6 MSFT 26Jun20 197.5 calls (MSFT200626C197.5) for a credit of $1.50 (selling a vertical)

BTO 1 MSFT 18Sep20 190 call (MSFT200918C190)
STC 1 MSFT 18Sep20 210 call (MSFT200918C210) for a debit of $9.90 (buying a vertical)

BTC 2 MSFT 26Jun20 202.5 puts (MSFT200626P202.5)
STO 2 MSFT 10Jul20 195 puts (MSFT200710P195) for a debit of $1.50 (selling a diagonal)

BTO 1 MSFT 16Oct20 190 put (MSFT201016P190)
STC 1 MSFT 18Sep20 200 put (MSFT200918P200) for a credit of $2.80 (buying a diagonal)

BTO 1 MSFT 16Oct20 190 put (MSFT201016P190)
STC 1 MSFT 18Sep20 195 put (MSFT200918P195) for a credit of $0.40 (buying a diagonal)

BTO 1 MSFT 16Oct20 200 call (MSFT201016C200)
STC 1 MSFT 18Sep20 210 call (MSFT200918C210) for a debit of $6.10 (buying a diagonal)


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

Happy trading.

Terry