Recommended trade entry for Friday, August 11

Option Code: SPXW170818, 7 days to expiration

Expiration: Friday, August 18. Please note that there are two August 18 expirations in the SPX option chain. One is the regular August monthly (last day to trade is Thursday), and the other is the August 18 weekly that expires at the close on Friday. This week's trade is on the WEEKLY; please check before you enter the trade that it is the correct cycle (option code is above). As always it is a trader's choice whether to take this trade or sit on the sidelines. While volatility has increased, it brings with it the concern over the rising tensions between the US and North Korea. For those taking the trade with live capital, it is recommended to trade a smaller position size than usual.

Recommended Trade Entry:

- SELL SPX August 18 2485 Call, currently $1.30. Delta of short call: .08.

- BUY SPX August 18 2495 Call, currently $.55.

- SELL SPX August 18 2370 Put, currently $4.45. Delta of short put: -.13.

- BUY SPX August 18 2360 Put, currently $3.80.

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

Current mid price for all four legs: $1.40. 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 have to cave to get a fill, but it is not recommended to enter for less than our suggested minimum of $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