September 8, 2020 Terry’s Tips Trade Alert  #2 - Wiley Wolf Portfolio

We need to reduce delta by lowering some call strikes:

BTC 2 MSFT 18Sep20 222.5 calls (MSFT200918C222.5)
STO 2 MSFT 18Sep20 210 calls (MSFT200918C210) for a credit of $2.75 (selling a vertical)

BTC 2 MSFT 18Sep20 222.5 calls (MSFT200918C222.5)
STO 2 MSFT 18Sep20 207.5 calls (MSFT200918C207.5) for a credit of $3.65 (selling a vertical)

BTC 1 MSFT 18Sep20 225 call (MSFT200918C225)
STC 1 MSFT 18Dec20 225 call (MSFT201218C225) for a credit of $9.00 (selling a calendar)

BTO 2 MSFT 18Dec20 205 calls (MSFT201218C205)
STC 2 MSFT 18Dec20 225 calls (MSFT201218C225) for a debit of $8.00 (buying a vertical)

BTO 1 MSFT 18Dec20 215 call (MSFT201218C215)
STC 1 MSFT 18Dec20 225 call (MSFT201218C225) for a debit of $3.60 (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