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

We will raise delta by rolling short positions with little remaining extrinsic value out four weeks to the June 26 expiration:
 
BTC 6 MSFT 29May20 175 puts (MSFT200529P175)
STO 6 MSFT 26Jun20 182.5 puts (MSFT200626P182.5) for a credit of $5.60 (selling a diagonal)

BTO 3 MSFT 18Sep20 180 puts (MSFT200918P180)
STC 3 MSFT 18Sep20 170 puts (MSFT200918P170) for a debit of $3.80 (buying a vertical)

BTO 1 MSFT 18Sep20 190 put (MSFT200918P190)
STC 1 MSFT 18Sep20 175 put (MSFT200918P175) for a debit of $7.20 (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