Recommended trade entry for January 16

Option Code:SPXW15012

Expiration Date: Friday, January 12.

Recommended Trade Entry:

Please note that the is the first cycle we will be venturing into a weekly trade this year. There is still a lot of market volatility, so it is recommended to trade a smaller size than usual, and pay extra due diligence to risk management as outlined in the guidelines.

- SELL SPX January 4 2070 Calls, currently $1.90. Delta of short call: .10.

- BUY SPX January 4 2080 Calls, currently $1.00.

- SELL SPX January 4 1925 Puts, currently $5.60. Delta of short put: .13.

- BUY SPX January 4 1915 Puts, currently $4.50.

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

Current mid price for all four legs: $2.00. We recommend trying to get filled for the mid or a few cents below.

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