Recommended trade entry for Friday, March 3

Option Code: SPXW170310

Expiration: Friday, March 10

We never got a fill on yesterday's trade entry, so we will try again today. This is a very cautious trade entry once again; there are 70 points between the two short strikes so it is narrower than usual. It is a trader's choice whether to take the trade or sit on the sidelines for this cycle, depending on your risk tolerance and market opinion. Because I believe in consistency in trading whenever possible, I am entering a small position for this cycle but there is nothing wrong with skipping this week.

Recommended Trade Entry:

- SELL SPX March 10 2410 Call, currently $1.35. Delta of short call: .12.

- BUY SPX March 10 2420 Call, currently $.70.

- SELL SPX March 10 2340 Put, currently $ 1.30. Delta of short put: -.11.

- BUY SPX March 10 2330 Put, currently $.75.

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

Current mid price for all four legs: $1.20, which is below the minimum suggested credit of $1.25 for the trade. I am entering the order at our minimum suggested credit of 1.25 with the hope it may fill during the day. It is a trader's choice whether to move in the strikes to obtain the minimum credit, but I do not feel comfortable carrying that added risk over the weekend. If the order does not fill for $1.25 We will stay on the sidelines with cash as our position.

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