March 13, 2020 Terry’s Tips Trade Alert – Wiley Wolf Portfolio

Delta remains higher than we’d like, so we’re rolling down some far out-of-the-money call strikes. This will increase theta as well:

BTC 1 MSFT 27Mar20 165 call (MSFT200327C165)
STO 1 MSFT 27Mar20 140 call (MSFT200327C140)
BTO 1 MSFT 17Jul20 140 call (MSFT200717C140)
STC 1 MSFT 17Jul20 160 call (MSFT200717C160) for a credit of $0.90 (selling a vertical roll)

BTC 1 MSFT 27Mar20 162.5 call (MSFT200327C162.5)
STO 1 MSFT 27Mar20 145 call (MSFT200327C145)
BTO 1 MSFT 17Jul20 145 call (MSFT200717C145)
STC 1 MSFT 17Jul20 160 call (MSFT200717C160) for a debit of $0.05 (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