September 24, 2024 Terry’s Tips Trade Alert – Boomer’s Revenge Portfolio

September 24, 2024 Terry’s Tips Trade Alert – Boomer’s Revenge Portfolio


With IWM going ex-dividend tomorrow, we are rolling out an ITM short call with little extrinsic value to avoid assignment. We are also rolling out call strikes with little extrinsic and rolling down a put to lower delta:


BTC 1 IWM 27Sep24 224 put (IWM240927P224)
STO 1 IWM 27Sep24 218 put (IWM240927P218) for a debit of $3.85 (buying a vertical) (100%)   

BTC 1 IWM 27Sep24 217 call (IWM240927C217)
STO 1 IWM 18Oct24 217 call (IWM241018C217) for a credit of $3.00 (selling a calendar) (100%)   

BTC 1 IWM 27Sep24 229 call (IWM240927C229)
STO 1 IWM 18Oct24 229 call (IWM241018C229) for a credit of $1.25 (selling a calendar) (100%)   

BTC 1 IWM 27Sep24 227 call (IWM240927C227)
STO 1 IWM 18Oct24 227 call (IWM241018C227) for a credit of $1.70 (selling a calendar) (100%)   


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

Happy trading,

Jon