November 4, 2020 Terry’s Tips Trade Alert - Wiley Wolf Portfolio

We have become severely negative delta. We will start with wholesale changes on the put side:

BTC 1 MSFT 27Nov20 190 put (MSFT201127P190)
STC 1 MSFT 19Feb21 180 put (MSFT210219P180) for a credit of $2.60 (selling a diagonal) (100%)

BTC 3 MSFT 27Nov20 190 puts (MSFT201127P190)
STC 3 MSFT 19Feb21 190 puts (MSFT210219P190) for a credit of $4.45 (selling a calendar) (100%)

BTC 4 MSFT 27Nov20 192.5 puts (MSFT201127P192.5)
STC 4 MSFT 19Feb21 190 puts (MSFT210219P190) for a credit of $4.30 (selling a diagonal) (100%)

BTC 5 MSFT 27Nov20 195 puts (MSFT201127P195)
STO 5 MSFT 27Nov20 207.5 puts (MSFT201127P207.5) for a credit of $2.10 (selling a vertical) (100%)

BTC 4 MSFT 27Nov20 197.5 puts (MSFT201127P197.5)
STO 4 MSFT 27Nov20 210 puts (MSFT201127P210) for a credit of $2.50 (selling a vertical) (100%)

BTC 3 MSFT 27Nov20 200 puts (MSFT201127P200)
STO 3 MSFT 27Nov20 212.5 puts (MSFT201127P212.5) for a credit of $3.05 (selling a vertical) (100%)

BTC 4 MSFT 27Nov20 202.5 puts (MSFT201127P202.5)
STO 4 MSFT 27Nov20 215 puts (MSFT201127P215) for a credit of $3.60 (selling a vertical) (100%)

BTO 3 MSFT 19Feb21 210 puts (MSFT210219P210)
STC 3 MSFT 19Feb21 190 puts (MSFT210219P190) for a debit of $6.45 (buying a vertical) (100%)

BTO 4 MSFT 19Feb21 215 puts (MSFT210219P215)
STC 4 MSFT 19Feb21 195 puts (MSFT210219P195) for a debit of $7.45 (buying a vertical) (100%)

BTO 2 MSFT 19Feb21 220 puts (MSFT210219P220)
STC 2 MSFT 19Feb21 200 puts (MSFT210219P200) for a debit of $8.50 (buying a vertical) (50%)


Be prepared to change this (these) price limit(s) by $.05 or more in order to get an execution.

Happy trading.

Terry