October 1, 2020 Terry’s Tips Trade Alert - Wiley Wolf Portfolio

We have become negative net delta:

BTC 2 MSFT 09Oct20 197.5 puts (MSFT201009P197.5)
STC 2 MSFT 15Jan21 195 puts (MSFT210115P195) for a credit of $8.70 (selling a diagonal)

BTC 2 MSFT 09Oct20 197.5 puts (MSFT201009P197.5)
STO 2 MSFT 09Oct20 212.5 puts (MSFT201009P212.5) for a credit of $3.10 (selling a vertical)

BTO 1 MSFT 15Jan21 215 put (MSFT210115P215)
STC 1 MSFT 15Jan21 195 put (MSFT210115P195) for a debit of $8.75 (buying a vertical)

BTO 1 MSFT 15Jan21 210 put (MSFT210115P210)
STC 1 MSFT 15Jan21 200 put (MSFT210115P200) for a debit of $4.40 (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