Recommended trade entry for Thursday, September 11

Option Code: SPX140920

Expiration Date: Friday, September 19. Note that this week's trade is the regular monthly cycle; the last day to trade will be Thursday, September 18.

Recommended Trade Entry:

- SELL SPX September 2020 Calls, currently $1.35. Delta of short call: .11.

- BUY SPX September 2030 Calls, currently $.40.

- SELL SPX September 1940 Puts, currently $3.00. Delta of short put: .13

- BUY SPX September 1930 Puts, currently $2.35.

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

Current mid price for all four legs: $1.60. We recommend trying to get filled for the mid, or a few cents below. Minimum recommended credit: $1.25.

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 - .12 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.

For those unfamiliar with the strategy, the trade management guidelines were updated on August 7, and can be found here: Link to Articles

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

Dot Hazlin