Recommended trade entry for Friday, February 3

Option Code: SPXW170210

Expiration: Friday, February 10

Recommended Trade Entry:

- SELL SPX February 10 2315 Call, currently $1.40. Delta of short call: .12.

- BUY SPX February 10 2325 Call, currently $.70.

- SELL SPX February 10 2250 Put, currently $ 2.35. Delta of short put: -.13.

- BUY SPX February 10 2240 Put, currently $1.80.

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

Current mid price for all four legs: $1.25, which is the recommended minimum credit for this trade. Bid/ask prices can sometimes be wide, so there is no guarantee there will be a fill at the current mid price. Some traders may get filled at a better credit, others may have to cave in a bit to get the order executed. But it is not recommended to open the position unless you can get $1.25 credit.

Please note: Traders should always be aware of any news events that may cause a sudden move in the market. If that occurs, it is recommended to immediately cancel the working order until things settle. Depending on the move that may occur, the above strikes may need to be changed to appropriate strikes within the .10 - .15 range. It is each individual's responsibility to select the strikes they feel most comfortable with, depending on trading style and risk tolerance.

Update will be posted with exact position details when the trade is opened.

As always, stay keen on your risk management and trade carefully,

Dot Hazlin