Recommended trade entry for Friday, March 24

Option Code: SPXW170331

Expiration: Friday, March 31.

Recommended Trade Entry:

PLEASE NOTE:

As of this writing, there still has not been any announcement on the vote by the US House of Representatives on the Healthcare Reform. From what I have read, it may not be until after the market close so I am moving forward with the following trade. Those subscribers taking this trade live should be aware of the added risk pending the outcome of the vote. There is always the option of sitting on the sidelines. The trade suggested below is what I consider the most reasonable trade entry for this cycle.

- SELL SPX March 31 2400 Call, currently $1.35. Delta of short call: .08.

- BUY SPX March 31 2410 Call, currently $.70.

- SELL SPX March 31 2290 Put, currently $ 3.10. Delta of short put: -.12.

- BUY SPX March 31 2280 Put, currently $2.40.

It is recommended to place the order as a single entry: SELL " Iron Condor".

Current mid price for all four legs: $1.35. It is recommended to try to get filled at the mid or a few cents below. The minimum recommended credit for trade entry is $1.25. Bid/ask prices can sometimes be wide, so there is no guarantee there will be a fill at the current mid price. Some traders may get filled at a better credit, others may have to cave in a bit to get the order executed. But it is not recommended to open the position unless you can get $1.25 credit.

Please note: Traders should always be aware of any news events that may cause a sudden move in the market. If that occurs, it is recommended to immediately cancel the working order until things settle. Depending on the move that may occur, the above strikes may need to be changed to appropriate strikes within the .10 - .15 range. It is each individual's responsibility to select the strikes they feel most comfortable with, depending on trading style and risk tolerance.

Update will be posted with exact position details when the trade is opened.

As always, stay keen on your risk management and trade carefully,

Dot Hazlin