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

With MSFT down 3% this week, we have become overly positive delta. We’ll start by reducing strikes on the call side:
 
BTC 2 MSFT 29May20 190 calls (MSFT200529C190)
STC 2 MSFT 18Sep20 190 calls (MSFT200918C190) for a credit of $6.60 (selling a calendar)

BTC 1 MSFT 29May20 190 call (MSFT200529C190)
STO 1 MSFT 26Jun20 180 call (MSFT200626C180) for a credit of $5.00 (selling a diagonal)

BTC 2 MSFT 29May20 187.5 calls (MSFT200529C187.5)
STO 2 MSFT 26Jun20 177.5 calls (MSFT200626C177.5) for a credit of $6.40 (selling a diagonal)

BTO 2 MSFT 18Sep20 175 calls (MSFT200918C175)
STC 2 MSFT 18Sep20 190 calls (MSFT200918C190) for a debit of $7.50 (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