Recommended trade entry for Friday, June 9

Option Code: SPX170616

Expiration: Friday, June 16. Because this is the regular June monthly cycle, the last day to trade this week's trade is Thursday. I remind everyone once again that if you are taking this trade with live capital, please consider reducing your position size. There is also the option of sitting on the sidelines with cash as your position once again; it is a trader's choice.

Recommended Trade Entry:

- SELL SPX June 16 2465 Call, currently $1.55. Delta of short call: .13.

- BUY SPX June 16 2475 Call, currently $.75.

- SELL SPX June 16 2395 Put, currently $ 1.50. Delta of short put: -.10.

- BUY SPX June 16 2385 Put, currently $1.05.

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

Current mid price for all four legs: $1.25. It is recommended to try to get filled at $1.25, as this is the minimum suggested credit recommended for the trades. Some traders may choose to cave .05 in order to get a fill. I will let the order sit for $1.25 for a bit before lower the price to $1.20. 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.

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