Recommended trade entry for Monday, June 12
SPY Iron Condor for July monthly cycle, expiring July 21
Recommended Trade Entry:
- SELL SPY July 248 Call, currently .46. Delta of short call: .16.
- BUY SPY July 254 Call, currently $.08.
- SELL SPY July 234 Put, currently $1.23. Delta of short put: -.20
- BUY SPY July 229 Put, currently $.79
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.82. 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,