March 12, 2020 Terry’s Tips Trade Alert #2 – Wiley Wolf Portfolio

We continue to reduce delta by lowering put strikes:

BTC 2 MSFT 27Mar20 160 puts (MSFT200327P160)
STO 2 MSFT 27Mar20 140 puts (MSFT200327P140)
BTO 2 MSFT 18Sep20 140 puts (MSFT200918P140)
STC 2 MSFT 18Sep20 160 puts (MSFT200918P160) for a debit of $0.30 (selling a vertical roll)

BTC 1 MSFT 27Mar20 157.5 put (MSFT200327P157.5)
STO 1 MSFT 27Mar20 140 put (MSFT200327P140)
BTO 1 MSFT 18Sep20 140 put (MSFT200918P140)
STC 1 MSFT 18Sep20 155 put (MSFT200918P155) for a debit of $1.40 (selling a vertical roll)

BTC 1 MSFT 27Mar20 155 put (MSFT200327P155)
STO 1 MSFT 27Mar20 138 put (MSFT200327P138)
BTO 1 MSFT 18Sep20 140 put (MSFT200918P140)
STC 1 MSFT 18Sep20 155 put (MSFT200918P155) for a debit of $0.40 (selling a vertical roll)

BTC 1 MSFT 27Mar20 152.5 put (MSFT200327P152.5)
STO 1 MSFT 27Mar20 138 put (MSFT200327P138)
BTO 1 MSFT 18Sep20 140 put (MSFT200918P140)
STC 1 MSFT 18Sep20 155 put (MSFT200918P155) for a credit of $1.00 (selling a vertical roll)

BTC 1 MSFT 27Mar20 162.5 put (MSFT200327P162.5)
STO 1 MSFT 27Mar20 145 put (MSFT200327P145)
BTO 1 MSFT 18Sep20 145 put (MSFT200918P145)
STC 1 MSFT 18Sep20 165 put (MSFT200918P165) for a credit of $0.80 (selling a vertical roll)


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

Happy trading.

Terry