Monthly IWM Iron Condor for October Cycle

Further to the request of some readers for a longer term/monthly trade on an ETF with less margin than one of the indices, I have set up an October Iron Condor on IWM that could be entered today (37 days prior to October expiration) or tomorrow.

The current strikes being recommended are:

Calls: -109/+114 - Current delta of the 109 Call is .20

Puts: -98/+93 - Current delta of the 98 Put is -.18

The current credit for the position is $.92. The minimum recommended credit for position entry is .80.

Depending on exact entry time, deltas and credit may be different than outlined above. Also, if either short strike delta exceeds beyond 20 at the time of entry, it is recommended to select the first strike with a delta of 20 or under. It is also recommended for those entering this position live, to trade it very small as the FOMC meeting is next week so I am trading very small and cautiously.

I will post exact entry details when the position is entered today or tomorrow.

As always, trade carefully and stay keen on your risk management.

Dot Hazlin