Recommended trade entry for Monday, February 6
SPY Iron Condor for March monthly cycle, expiring March 17
Recommended Trade Entry:
- SELL SPY March 235 Call, currently .60. Delta of short call: .17.
- BUY SPY March 240 Call, currently $.15.
- SELL SPY March 219 Put, currently $.90 Delta of short put: -.17
- BUY SPY March 213 Put, currently $.55
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.80. We recommend trying to get filled for the mid price, as 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,