Additional recommendation for today's SPX weekly trade entry. Depending on how the market reacts after the economic news this morning (GDP and weekly Jobless Claims reports at 8:30 EST), the center strike for the April 1 SPX weekly Iron Butterfly may be at 1565. As of this morning pre-market, the credit for this position is $15.85.
Depending on volatility, and time of trade entry, the credit could drop to $15.00 or lower. It is acceptable to enter at a lower credit, but advisable to get as close to that price as possible; keeping in mind the optimum risk/reward ratio of 1:1 is a credit of $15.00. Do not enter the trade if the credit is $14.00 or less.
An update will be posted later today with the trade entry details.