Recommended trade entry for Friday, September 26

Option Code: SPXW141003

Expiration Date: Friday, October 3.

As we all are aware, this has been a very difficult trading week. I am entering this new position very cautiously, and recommend that anyone who enters consider a smaller size than usual.

Recommended Trade Entry:

- SELL SPX October 1 2010 Calls, currently $.70 Delta of short call: .08.

- BUY SPX October 1 2020 Calls, currently $.25.

- SELL SPX October 1 1920 Puts, currently $4.00. Delta of short put: .14

- BUY SPX October 1 1910 Puts, currently $3.10.

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

Current mid price for all four legs: $1.35. 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