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

We need to reduce delta:

BTC 1 MSFT 27Mar20 155 call (MSFT200327C155)
STC 1 MSFT 18Sep20 155 call (MSFT200918C155) for a credit of $9.30 (selling a calendar)

BTC 2 MSFT 27Mar20 150 calls (MSFT200327C150)
STO 2 MSFT 27Mar20 140 calls (MSFT200327C140) 
BTO 2 MSFT 18Sep20 140 calls (MSFT200918C140)
STC 2 MSFT 18Sep20 150 calls (MSFT200918C150) for a debit of $1.20 (selling a vertical roll)

BTC 3 MSFT 27Mar20 145 puts (MSFT200327P145)
STO 3 MSFT 27Mar20 135 puts (MSFT200327P135) 
BTO 3 MSFT 18Sep20 135 puts (MSFT200918P135)
STC 3 MSFT 18Sep20 145 puts (MSFT200918P145) 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