Recommended trade entry for Thursday, March 16

Option Code: SPXW170324

Expiration: Friday, March 24.

Recommended Trade Entry:

- SELL SPX March 24 2420 Call, currently $1.85. Delta of short call: .13.

- BUY SPX March 24 2430 Call, currently $1.00.

- SELL SPX March 24 2335 Put, currently $ 2.00. Delta of short put: -.10.

- BUY SPX March 24 2325 Put, currently $1.55.

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

Current mid price for all four legs: $1.30. It is recommended to try to get filled at the mid or a few cents below. The minimum recommended credit for trade entry is $1.25. 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