Recommended trade entry for Monday, November 6
SPY Iron Condor for December monthly cycle, expiring December 15
Recommended Trade Entry:
- SELL SPY December 264 Call, currently .58. Delta of short call: .18.
- BUY SPY December 269 Call, currently $.15.
- SELL SPY December 249 Put, currently $.97. Delta of short put: -.17
- BUY SPY December 244 Put, currently $.59
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,