May 27, 2020 Terry’s Tips Trade Alert #2 – Wiley Wolf Portfolio

We need to further reduce delta:
 
BTC 5 MSFT 29May20 185 calls (MSFT200529C185)
STO 5 MSFT 29May20 180 calls (MSFT200529C180)
BTO 5 MSFT 18Sep20 180 calls (MSFT200918C180)
STC 5 MSFT 18Sep20 185 calls (MSFT200918C185) for a debit of $1.70 (selling a vertical roll)

BTC 4 MSFT 29May20 185 puts (MSFT200529P185)
STC 4 MSFT 29May20 177.5 puts (MSFT200529P177.5) for a debit of $6.10 (buying a vertical)

BTO 3 MSFT 18Sep20 170 puts (MSFT200918P170)
STC 3 MSFT 18Sep20 185 puts (MSFT200918P185) for a credit of $6.90 (selling a vertical)

BTC 2 MSFT 29May20 182.5 puts (MSFT200529P182.5)
STC 2 MSFT 29May20 175 puts (MSFT200529P175) for a debit of $4.60 (buying a vertical)


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

Happy trading.

Terry