Recommended trade entry for Monday, August 10
SPY Iron Condor for September monthly cycle, expiring September 18
Recommended Trade Entry:
- SELL SPY September 216 Call, currently $.59. Delta of short call: .16.
- BUY SPY September 221 Call, currently $.08.
- SELL SPY September 199 Put, currently $.98. Delta of short put: -.16
- BUY SPY September 194 Put, currently $.54
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.95. We recommend trying to get filled for the mid, or a few cents below. Minimum recommended credit: $.80.
Update will be posted with exact position details when the order is executed.
As always, stay keen on your risk management and trade carefully,