May 12, 2021 Terry’s Tips Trade Alert - Wiley Wolf Portfolio

We are reducing delta and increasing theta:

BTC 1 MSFT 28May21 247.5 put (MSFT210528P247.5)
STO 1 MSFT 28May21 237.5 put (MSFT210528P237.5)
BTO 1 MSFT 20Aug21 240 put (MSFT210820P240)
STC 1 MSFT 20Aug21 250 put (MSFT210820P250) for a credit of $0.15 (buying a vertical roll) (100%)

BTC 1 MSFT 28May21 247.5 put (MSFT210528P247.5)
STO 1 MSFT 28May21 237.5 put (MSFT210528P237.5)
BTO 1 MSFT 20Aug21 235 put (MSFT210820P235)
STC 1 MSFT 20Aug21 245 put (MSFT210820P245) for a debit of $0.60 (buying a vertical roll) (100%)

BTC 2 MSFT 28May21 245 puts (MSFT210528P245)
STO 2 MSFT 28May21 235 puts (MSFT210528P235)
BTO 2 MSFT 20Aug21 235 puts (MSFT210820P235)
STC 2 MSFT 20Aug21 245 puts (MSFT210820P245) for a credit of $0.10 (buying a vertical roll) (100%)

BTC 1 MSFT 28May21 242.5 put (MSFT210528P242.5)
STO 1 MSFT 28May21 232.5 put (MSFT210528P232.5)
BTO 1 MSFT 20Aug21 235 put (MSFT210820P235)
STC 1 MSFT 20Aug21 245 put (MSFT210820P245) for a credit of $0.70 (buying a vertical roll) (100%)

BTC 1 MSFT 28May21 255 call (MSFT210528C255)
STO 1 MSFT 28May21 245 call (MSFT210528C245)
BTO 1 MSFT 20Aug21 245 call (MSFT210820C245)
STC 1 MSFT 20Aug21 255 call (MSFT210820C255) for a debit of $1.50 (selling a vertical roll) (100%)

BTC 1 MSFT 28May21 242.5 put (MSFT210528P242.5)
STO 1 MSFT 28May21 232.5 put (MSFT210528P232.5)
BTO 1 MSFT 20Aug21 230 put (MSFT210820P230)
STC 1 MSFT 20Aug21 240 put (MSFT210820P240) for a credit of $0.15 (buying a vertical roll) (100%)


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

Happy trading.

Terry