Recommended trade entry for Monday, October 12
SPY Iron Condor for November monthly cycle, expiring November 20
Recommended Trade Entry:
- SELL SPY November 210 Call, currently $.56. Delta of short call: .14.
- BUY SPY November 215 Call, currently $.11.
- SELL SPY November 188 Put, currently $1.11. Delta of short put: -.16
- BUY SPY November 183 Put, currently $.71
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.85. We recommend trying to get filled for the mid, or a few cents below. The minimum recommended credit for this trade is $.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,