Recommended trade entry for Monday, May 9
SPY Iron Condor for May monthly cycle, expiring June 17
Recommended Trade Entry:
- SELL SPY June 214 Call, currently $.48. Delta of short call: .13.
- BUY SPY June 219 Call, currently $.10.
- SELL SPY June 194 Put, currently $1.10. Delta of short put: -.16
- BUY SPY June 189 Put, currently $.64
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.84. 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,