Recommended trade entry for Thursday, April 13

Option Code: SPX170421

Expiration: Friday, April 21. Because this is the regular April monthly cycle, the last day to trade this week's trade is Thursday. For those trading with live capital, please consider reducing position size as we have the added risk of geopolitical events and the Holiday weekend. There is also the option of sitting on the sidelines with cash as your position; it is a trader's choice.

Recommended Trade Entry:

- SELL SPX April 21 2375 Call, currently $1.80. Delta of short call: .11.

- BUY SPX April 21 2385 Call, currently $1.05.

- SELL SPX April 21 2295 Put, currently $ 2.30. Delta of short put: -.12.

- BUY SPX April 21 2285 Put, currently $1.75.

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

Current mid price for all four legs: $1.30. 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