May 6, 2020 Terry’s Tips Trade Alert #2 – Wiley Wolf Portfolio

We remain negative net delta:
 
BTC 1 MSFT 29May20 167.5 put (MSFT200529P167.5)
STO 1 MSFT 29May20 185 put (MSFT200529P185)
BTO 1 MSFT 18Sep20 185 put (MSFT200918P185)
STC 1 MSFT 18Sepo20 165 put (MSFT200918P165) for a debit of $2.90 (selling a vertical roll)

BTC 2 MSFT 29May20 175 calls (MSFT200529C175)
STO 2 MSFT 29May20 190 calls (MSFT200529C190)
BTO 2 MSFT 18Sep20 195 calls (MSFT200918C195)
STC 2 MSFT 18Sepo20 175 calls (MSFT200918C175) for a credit of $1.50 (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