There is something "out of sync" on the September SPY option chain, and the order was executed in error by my broker.

As I posted earlier, I entered the SPY September Iron Condor order this morning to open the position for the mid credit at the time of $1.32, and the order filled. However, after receiving an email from one of our subscribers, I looked further into what appeared to be a pricing discrepancy between the various spread prices on the call side.

I have just been told by my broker that this order should have never executed, and they have closed out the position. This is related to the same problem we had with SPY last month, in that the SEC is still not allowing positions to be opened in SPY for strikes over 200. However, because some traders had open positions that were erroneously filled, they are allowing closing orders ONLY.

This is very frustrating for me, and I'm sure causing confusion to those readers who may be trying to get filled on the same position I was earlier. But because the order was filled in error and subsequently closed by my broker, I do not currently have an open position for SPY September Iron Condor.

I will post an update when I have more information on the availability on the strikes needed for the September position.

In the meantime, stay keen on your risk management and trade carefully,

Dot Hazlin