Recommended trade entry for Monday, January 9
SPY Iron Condor for February monthly cycle, expiring February 17
- SELL SPY February 233 Call, currently $.72. Delta of short call: .17.
- BUY SPY February 238 Call, currently $.18.
- SELL SPY February 217 Put, currently $.89. Delta of short put: -.17
- BUY SPY February 212 Put, currently $.50.
It is recommended to place the order as a single entry:SELL " Iron Condor".
Current mid price for all four legs: $.93. 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,