May 13, 2020 Terry’s Tips Trade Alert – Wiley Wolf Portfolio

We need to reduce delta:
 
BTC 2 MSFT 29May20 187.5 puts (MSFT200529P187.5)
STO 2 MSFT 29May20 175 puts (MSFT200529P175)
BTO 2 MSFT 18Sep20 175 puts (MSFT200918P175)
STC 2 MSFT 18Sep20 190 puts (MSFT200918P190) for a credit of $0.50 (buying a vertical roll)

BTC 4 MSFT 29May20 190 calls (MSFT200529C190)
STO 4 MSFT 29May20 180 calls (MSFT200529C180)
BTO 4 MSFT 18Sep20 180 calls (MSFT200918C180)
STC 4 MSFT 18Sep20 190 calls (MSFT200918C190) for a debit of $1.60 (selling a vertical roll)

BTC 1 MSFT 29May20 195 call (MSFT200529C195)
STC 1 MSFT 18Sep20 195 call (MSFT200918C195) for a credit of $5.90 (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