May 14, 2020 Terry’s Tips Trade Alert – Wiley Wolf Portfolio

We need to reduce delta:
 
BTC 1 MSFT 29May20 187.5 call (MSFT200529C187.5)
STO 1 MSFT 29May20 177.5 call (MSFT200529C177.5)
BTO 1 MSFT 18Sep20 185 call (MSFT200918C185)
STC 1 MSFT 18Sep20 195 call (MSFT200918C195) for a debit of $0.25 (selling a vertical roll)

BTC 3 MSFT 29May20 185 puts (MSFT200529P185)
STO 3 MSFT 29May20 172.5 puts (MSFT200529P172.5)
BTO 3 MSFT 18Sep20 175 puts (MSFT200918P175)
STC 3 MSFT 18Sep20 185 puts (MSFT200918P185) for a debit of $1.60 (buying a vertical roll)


BTC 1 MSFT 29May20 187.5 call (MSFT200529C187.5)
STC 1 MSFT 18Sep20 195 call (MSFT200918C195) for a credit of $5.40 (selling a diagonal)


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

Happy trading.

Terry