Recommended trade entry for Monday, April 6
May monthly cycle, expiring May 15
Recommended Trade Entry:
- SELL SPY May 215 Calls, currently $.54. Delta of short call: .15.
- BUY SPY May 220 Calls, currently $.06.
- SELL SPY May 197 Puts, currently $1.15. Delta of short put: - .17
- BUY SPY May 192 Puts, currently $.64
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.99. We recommend trying to get filled for the mid, or a few cents below. Minimum recommended credit: $.80.
Update will be posted with exact position details when the order is executed.
As always, stay keen on your risk management and trade carefully,