Recommended trade entry for Friday, August 22

Option Code: SPXW140829

Expiration Date: Friday, August 29.

Recommended Trade Entry:

- SELL SPX August 5 2015 Calls, currently $1.10. Delta of short call: .11.

- BUY SPX August 5 2025 Calls, currently $.35.

- SELL SPX August 5 1955 Puts, currently $2.15. Delta of short put: .12

- BUY SPX August 5 1945 Puts, currently $1.50.

It is recommended to place the order as a single entry: SELL " Iron Condor".

Current mid price for all four legs: $1.40. We recommend trying to get filled for the mid, or a few cents below. Minimum recommended credit: $1.25.

Please note: Traders should always be aware of any news events that may cause a sudden move in the market. If that occurs, it is recommended to immediately cancel the working order until things settle. Depending on the move that may occur, the above strikes may need to be changed to appropriate strikes within the .10 - .12 range. It is each individual's responsibility to select the strikes they feel most comfortable with, depending on trading style and risk tolerance.

Update will be posted with exact position details when the order is filled.

For those unfamiliar with the strategy, the trade management guidelines were updated on August 7, and can be found here: Link to Articles

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

Dot Hazlin