Recommended trade entry for Monday, May 8
SPY Iron Condor for June monthly cycle, expiring June 16
Recommended Trade Entry:
- SELL SPY June 245 Call, currently .65. Delta of short call: .18.
- BUY SPY June 250 Call, currently $.15.
- SELL SPY June 230 Put, currently $.87. Delta of short put: -.16
- BUY SPY June 225 Put, currently $.51
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.86. 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,