May 9, 2019 Terry’s Tips Trade Alert   – Wiley Wolf  Portfolio 

We will sell the 130 puts before we get assigned and replace them with a lower-strike spread:

STC 5 MSFT 19Jul19 130 puts (MSFT190719P130)
BTC 5 MSFT 10May19 130 puts (MSFT190510P130) for a credit of $2.61 (selling a calendar)

BTO 3 MSFT 19Jul19 125 puts (MSFT190719P125)
STO 3 MSFT 10May19 125 puts (MSFT190510P125) for a debit of $4.02 (buying a calendar)  

Be prepared to change these prices by $.05 or more in order to get an execution

Happy trading.

Terry