Recommended trade entry for Wednesday, November 9
SPY Iron Condor for December monthly cycle, expiring December 16
Recommended Trade Entry:
- SELL SPY December 222 Call, currently .48. Delta of short call: .13.
- BUY SPY December 227 Call, currently $.13.
- SELL SPY December 201 Put, currently $1.29. Delta of short put: -.17
- BUY SPY December 196 Put, currently $.82
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.82. 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,