May 28, 2020 Terry’s Tips Trade Alert #2 – Wiley Wolf Portfolio

We’ll continue raising delta by rolling short positions with little remaining extrinsic value out four weeks to the June 26 expiration:
 
BTC 2 MSFT 29May20 177.5 puts (MSFT200529P177.5)
STO 2 MSFT 26Jun20 177.5 puts (MSFT200626P177.5) for a credit of $3.10 (selling a calendar)

BTC 2 MSFT 29May20 177.5 puts (MSFT200529P177.5)
STO 2 MSFT 26Jun20 180 puts (MSFT200626P180) for a credit of $3.85 (selling a diagonal)

BTC 2 MSFT 29May20 177.5 puts (MSFT200529P177.5)
STO 2 MSFT 26Jun20 175 puts (MSFT200626P175) for a credit of $2.50 (selling a diagonal)

BTC 2 MSFT 29May20 180 puts (MSFT200529P180)
STO 2 MSFT 26Jun20 185 puts (MSFT200626P185) for a credit of $5.75 (selling a diagonal)

BTO 2 MSFT 18Sep20 185 puts (MSFT200918P185)
STC 2 MSFT 18Sep20 175 puts (MSFT200918P175) for a debit of $4.20 (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