Recommended trade entry for Monday, November 9
SPY Iron Condor for December monthly cycle, expiring December 18
Recommended Trade Entry:
- SELL SPY December 217 Call, currently $.48. Delta of short call: .13.
- BUY SPY December 222 Call, currently $.11.
- SELL SPY December 196 Put, currently $1.17. Delta of short put: -.16
- BUY SPY December 191 Put, currently $.72
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.82. 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,