Recommended trade entry for Friday, November 14

Option Code: SPX141122

Expiration Date: Friday, November 21. Please note that because this weekly cycle is the regular November monthly cycle, the last day to trade will be Thursday, November 20.

Recommended Trade Entry:

- SELL SPX November 2070 Calls, currently $1.15. Delta of short call: .11.

- BUY SPX November 2080 Calls, currently $.50.

- SELL SPX November 2000 Puts, currently $2.00. Delta of short put: .14.

- BUY SPX November 1990 Puts, currently $1.40.

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

Current mid price for all four legs: $1.25. We recommend trying to get filled for the mid; $1.25 is the suggested minimum credit for this trade.

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 - .14 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