March 25, 2020 Terry’s Tips Trade Alert – Wiley Wolf Portfolio

We have become too negative net delta:

BTC 2 MSFT 27Mar20 130 puts (MSFT200327P130)
STC 2 MSFT 18Sep20 130 puts (MSFT200918P130) for a credit of $8.80 (selling a calendar)

BTC 1 MSFT 27Mar20 135 call (MSFT200327C135)
STO 1 MSFT 27Mar20 150 call (MSFT200327C150) 
BTO 1 MSFT 18Sep20 150 call (MSFT200918C150)
STC 1 MSFT 18Sep20 135 call (MSFT200918C135) for a debit of $1.60 (selling a vertical roll)

BTC 2 MSFT 27Mar20 140 calls (MSFT200327C140)
STO 2 MSFT 27Mar20 155 calls (MSFT200327C155) 
BTO 2 MSFT 18Sep20 155 calls (MSFT200918C155)
STC 2 MSFT 18Sep20 140 calls (MSFT200918C140) for a credit of $1.00 (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