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

We need to reduce delta by lowering some put strikes:

BTC 2 MSFT 18Sep20 212.5 puts (MSFT200918P212.5)
STO 2 MSFT 18Sep20 197.5 puts (MSFT200918P197.5) for a debit of $7.00 (buying a vertical)

BTC 2 MSFT 18Sep20 210 puts (MSFT200918P210)
STO 2 MSFT 18Sep20 200 puts (MSFT200918P200) for a debit of $4.70 (buying a vertical)

BTC 2 MSFT 18Sep20 210 puts (MSFT200918P210)
STO 2 MSFT 18Sep20 197.5 puts (MSFT200918P197.5) for a debit of $5.40 (buying a vertical)

BTO 3 MSFT 18Dec20 195 puts (MSFT201218P195)
STC 3 MSFT 18Dec20 215 puts (MSFT201218P215) for a credit of $9.80 (selling a vertical)

BTO 1 MSFT 18Dec20 200 put (MSFT201218P200)
STC 1 MSFT 18Dec20 215 put (MSFT201218P215) for a credit of $7.80 (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