March 23, 2020 Terry’s Tips Trade Alert #2 – Wiley Wolf Portfolio

We need to further reduce delta:

BTC 1 MSFT 27Mar20 150 call (MSFT200327C150)
STO 1 MSFT 27Mar20 135 call (MSFT200327C135) 
BTO 1 MSFT 18Sep20 135 call (MSFT200918C135)
STC 1 MSFT 18Sep20 150 call (MSFT200918C150) for a debit of $2.20 (selling a vertical roll)

BTC 3 MSFT 27Mar20 140 puts (MSFT200327P140)
STO 3 MSFT 27Mar20 130 puts (MSFT200327P130) 
BTO 3 MSFT 18Sep20 130 puts (MSFT200918P130)
STC 3 MSFT 18Sep20 140 puts (MSFT200918P140) for a debit of $0.20 (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