Recommended trade entry for Monday, October 5

Option Code: SPXW151009

Expiration Date: Friday, October 9.

Please note that this is the second time we have tested a Monday entry on the weekly Iron Condor. Since there is not a long track record yet for entering on a Monday, it is recommended to enter a smaller position size than normal.

Recommended Trade Entry:

- SELL SPX October 2 2015 Call, currently $1.80 Delta of short call: .11

- BUY SPX October 2 2025 Call, currently $.85.

- SELL SPX October 2 1910 Puts, currently $2.70. Delta of short put: -.11.

- BUY SPX October 2 1900 Puts, currently $2.05.

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

Current mid price for all four legs: $1.60. We recommend trying to get filled for the mid or a few cents below; $1.25 is the suggested minimum credit for this 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 - .15 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 for all the Couch Potato Trader plays were most recently updated on August 20, 2015, and can be found here: Link to Articles

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

Dot Hazlin