Recommended trade entry for Monday, July 10
SPY Iron Condor for August monthly cycle, expiring August 18
Recommended Trade Entry:
- SELL SPY August 248 Call, currently $.52. Delta of short call: .16.
- BUY SPY August 253 Call, currently $.08.
- SELL SPY August 233 Put, currently $1.00. Delta of short put: -.17
- BUY SPY August 228 Put, currently $.63
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.81. 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,