March 6, 2020 Terry’s Tips Trade Alert – Wiley Wolf Portfolio

We have become too positive delta:

BTC 1 MSFT 27Mar20 170 put (MSFT200327P170)
STO 1 MSFT 27Mar20 160 put (MSFT200327P160) for a debit of $5.30 (buying a vertical)

BTC 1 MSFT 27Mar20 170 put (MSFT200327P170)
STO 1 MSFT 27Mar20 157.5 put (MSFT200327P157.5) for a debit of $6.25 (buying a vertical)

BTC 1 MSFT 27Mar20 170 put (MSFT200327P170)
STO 1 MSFT 27Mar20 155 put (MSFT200327P155) for a debit of $7.20 (buying a vertical)

BTO 1 MSFT 18Sep20 155 put (MSFT200918P155)
STC 1 MSFT 17Jul20 175 put (MSFT200717P175) for a credit of $8.50 (buying a diagonal)

BTO 1 MSFT 18Sep20 160 put (MSFT200918P160)
STC 1 MSFT 18Sep20 175 put (MSFT200918P175) for a credit of $8.30 (selling a vertical)


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

Happy trading.

Terry