Recommended trade entry for April 10

Option Code: SPX150417

Expiration Date: Friday, April 17. Please note that because this week 's entry is the regular April monthly cycle, the last day to trade is next Thursday.

Recommended Trade Entry:

- SELL SPX April 2125 Calls, currently $.90. Delta of short call: .10.

- BUY SPX April 2135 Calls, currently $.25.

- SELL SPX April 2050 Puts, currently $2.05. Delta of short put: -.13.

- BUY SPX April 2040 Puts, currently $1.30.

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

Current mid price for all four legs: $1.40. We recommend trying to get filled for the mid or a few cents below; $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, 2014, and can be found here: Link to Articles

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

Dot Hazlin