Recommended trade entry for Monday, April 11
SPY Iron Condor for May monthly cycle, expiring May 20
Recommended Trade Entry:
- SELL SPY May 213 Call, currently $.55. Delta of short call: .15.
- BUY SPY May 218 Call, currently $.06.
- SELL SPY May 193 Put, currently $.93. Delta of short put: -.15
- BUY SPY May 188 Put, currently $.56
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.86. We recommend trying to get filled for the mid, or a few cents below. The minimum recommended credit for this trade is $.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,