New Trade Entry: SPX Weekly for March4 Cycle.

SPX Position Entered Thursday, March 14

SPX March4 Iron Butterfly

March4 SPX Iron Butterfly centered at 1560

Time of entry: 11:25 am Eastern. SPX price: 1,559.11 at entry; VIX at 11.63

Call spreads: -1560/+1590

Put spreads: -1560/+1530

Credit received: $15.05

Maximum margin/risk is $3,000 (width of wings)

Buying power reduction: $1,495 ($3,000 less credit of $1,505). This leaves $1,505 (before commissions) for adjustments.

Adjustment trigger points:

- Upside if SPX reaches 1570: Call spreads will be rolled up 20 points

- Downside if SPX reaches 1550: Put spreads will be rolled down 20 points

Exit plan:

Closing order is in to close the position for a $13.45 debit, which will be a net gain of $150 after commissions.

Trade will be exited if max loss of $300 is reached

I will post an update as the trade progresses.

As always, stay keen on your risk management and trade carefully.

Happy Trading,

Dot Hazlin