October 28, 2020 Terry’s Tips Trade Alert - Wiley Wolf Portfolio

With MSFT down 4% after earnings, we have become overly positive delta. We will start lowering delta by rolling out some short options our typical four weeks to lower strikes:

BTC 5 MSFT 30Oct20 222.5 calls (MSFT201030C222.5)
STO 5 MSFT 27Nov20 210 calls (MSFT201127C210) for a credit of $6.70 (selling a diagonal) (100%)

BTC 5 MSFT 30Oct20 220 calls (MSFT201030C220)
STO 5 MSFT 27Nov20 207.5 calls (MSFT201127C207.5) for a credit of $7.70 (selling a diagonal) (100%)

BTO 2 MSFT 19Feb21 210 calls (MSFT210219C210)
STC 2 MSFT 19Feb21 235 calls (MSFT210219C235) for a debit of $8.30 (buying a vertical) (100%)

BTO 3 MSFT 19Feb21 205 calls (MSFT210219C205)
STC 3 MSFT 15Jan21 225 calls (MSFT210115C225) for a debit of $10.35 (buying a diagonal) (100%)

BTO 1 MSFT 19Feb21 200 call (MSFT210219C200)
STC 1 MSFT 15Jan21 215 call (MSFT210115C215) for a debit of $9.45 (buying a diagonal) (25%)


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

Happy trading.

Terry