September 3, 2020 Terry’s Tips Trade Alert  - Wiley Wolf Portfolio

We need to reduce delta by first lowering put strikes:

BTC 2 MSFT 18Sep20 227.5 puts (MSFT200918P227.5)
STO 2 MSFT 18Sep20 217.5 puts (MSFT200918P217.5)
BTO 2 MSFT 18Dec20 220 puts (MSFT201218P220)
STC 2 MSFT 18Dec20 230 puts (MSFT201218P230) for a debit of $0.40 (buying a vertical roll)

BTC 2 MSFT 18Sep20 227.5 puts (MSFT200918P227.5)
STO 2 MSFT 18Sep20 217.5 puts (MSFT200918P217.5)
BTO 2 MSFT 18Dec20 215 puts (MSFT201218P215)
STC 2 MSFT 18Dec20 225 puts (MSFT201218P225) for a debit of $0.60 (buying a vertical roll)

BTC 2 MSFT 18Sep20 225 puts (MSFT200918P225)
STO 2 MSFT 18Sep20 212.5 puts (MSFT200918P212.5) for a debit of $6.30 (buying a vertical)

BTC 2 MSFT 18Sep20 222.5 puts (MSFT200918P222.5)
STO 2 MSFT 18Sep20 210 puts (MSFT200918P210) for a debit of $5.60 (buying a vertical)

BTO 2 MSFT 18Dec20 205 puts (MSFT201218P205)
STC 2 MSFT 18Dec20 225 puts (MSFT201218P225) for a credit of $9.50 (selling a vertical)

BTO 1 MSFT 18Dec20 210 put (MSFT201218P210)
STC 1 MSFT 18Dec20 225 put (MSFT201218P225) for a credit of $7.30 (selling a vertical)

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

Happy trading.

Terry