Recommended trade entry for March 20

Option Code: SPX150327

Expiration Date: Friday, March 27.

Recommended Trade Entry:

- SELL SPX March 4 2130 Calls, currently $1.40. Delta of short call: .13.

- BUY SPX March 4 2140 Calls, currently $.45.

- SELL SPX March 4 2060 Puts, currently $2.25. Delta of short put: -.12.

- BUY SPX March 4 2050 Puts, currently $1.55.

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

Current mid price for all four legs: $1.65. We recommend trying to get filled for the mid or a few cents below; $1.25 is the suggested minimum credit for this trade.

Special Note: As of this writing SPX has been hovering near the point where a trade entry is not recommended (one standard deviation). I feel comfortable with the short strikes as outlined; so will enter the position. If anyone feels uncomfortable, there is no harm in sitting on the sidelines for this week's trade.

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 - .14 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 trade is opened.

For those unfamiliar with the strategy, the trade management guidelines were updated on August 7, 2014 and can be found here: Link to Articles

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

Dot Hazlin