Recommended trade entry for Wednesday, September 14

Please note that we are very cautiously suggesting this trade entry. The extreme volatility we have seen in recent days adds another element of risk to any new trade. For those trading with live capital, I recommend trading a smaller size than usual. If anyone has the slightest reservation about entering this trade, there is nothing wrong with sitting on the sidelines with cash as your position.

SPY Iron Condor for October monthly cycle, expiring October 21

Recommended Trade Entry:

- SELL SPY October 221 Call, currently .56. Delta of short call: .15.

- BUY SPY October 226 Call, currently $.09.

- SELL SPY October 200 Put, currently $1.13. Delta of short put: -.15

- BUY SPY October 195 Put, currently $.71

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

Current mid price for all four legs: $.89. We recommend trying to get filled for the mid price 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,

Dot Hazlin