Recommended trade entry for Monday, March 13
SPY Iron Condor for April monthly cycle, expiring April 21
Recommended Trade Entry:
- SELL SPY April 243 Call, currently $.54. Delta of short call: .17.
- BUY SPY April 248 Call, currently $.08.
- SELL SPY April 228 Put, currently $.98 Delta of short put: -.17
- BUY SPY April 223 Put, currently $.60
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 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,