May 18, 2020 Terry’s Tips Trade Alert – Wiley Wolf Portfolio

With MSFT up more than a percent, we need to raise delta:
 
BTC 1 MSFT 29May20 172.5 put (MSFT200529P172.5)
STC 1 MSFT 18Sep20 175 put (MSFT200918P175) for a credit of $8.80 (selling a diagonal)

BTC 2 MSFT 29May20 172.5 puts (MSFT200529P172.5)
STO 2 MSFT 29May20 185 puts (MSFT200529P185)
BTO 2 MSFT 18Sep20 185 puts (MSFT200918P185)
STC 2 MSFT 18Sep20 175 puts (MSFT200918P175) for a debit of $1.30 (buying a vertical roll)

BTC 2 MSFT 29May20 175 puts (MSFT200529P175)
STO 2 MSFT 29May20 185 puts (MSFT200529P185)
BTO 2 MSFT 18Sep20 185 puts (MSFT200918P185)
STC 2 MSFT 18Sep20 175 puts (MSFT200918P175) for a debit of $1.50 (buying a vertical roll)

BTC 1 MSFT 29May20 177.5 call (MSFT200529C177.5)
STO 1 MSFT 29May20 185 call (MSFT200529C185)
BTO 1 MSFT 18Sep20 185 call (MSFT200918C185)
STC 1 MSFT 18Sep20 175 call (MSFT200918C175) for a credit of $0.60 (selling a vertical roll)

BTC 2 MSFT 29May20 180 call (MSFT200529C180)
STO 2 MSFT 29May20 187.5 call (MSFT200529C187.5)
BTO 2 MSFT 18Sep20 190 call (MSFT200918C190)
STC 2 MSFT 18Sep20 180 call (MSFT200918C180) for a credit of $0.80 (selling a vertical roll)

BTC 3 MSFT 29May20 180 call (MSFT200529C180)
STO 3 MSFT 29May20 190 call (MSFT200529C190)
BTO 3 MSFT 18Sep20 190 call (MSFT200918C190)
STC 3 MSFT 18Sep20 180 call (MSFT200918C180) for a debit of $0.15 (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