Recommended trade entry for Monday, October 10
SPY Iron Condor for October monthly cycle, expiring November 18
Recommended Trade Entry:
- SELL SPY November 223 Call, currently .58. Delta of short call: .16.
- BUY SPY November 228 Call, currently $.08.
- SELL SPY November 206 Put, currently $1.12. Delta of short put: -.17
- BUY SPY November 201 Put, currently $.66
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.96. We recommend trying to get filled for the mid price 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,