Recommended trade entry for January 30

Option Code:SPXW150206

Expiration Date: Friday, February 6.

Recommended Trade Entry:

Please note that although SPX is within the trade entry guidelines, I am entering this weekly position "very cautiously" and recommend those trading it do so in a smaller size than normal.

- SELL SPX February 1 2075 Calls, currently $1.10. Delta of short call: .07.

- BUY SPX February 1 2085 Calls, currently $.55.

- SELL SPX February 1 1935 Puts, currently $4.50. Delta of short put: .14.

- BUY SPX February 1 1925 Puts, currently $3.40.

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

Current mid price for all four legs: $1.65. We recommend trying to get filled for the mid or a few cents below. Minimum recommended credit for entry is $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 - .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, 2014, and can be found here: Link to Articles

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

Dot Hazlin