Recommended trade entry for Monday, August 7
SPY Iron Condor for September monthly cycle, expiring September 15
Recommended Trade Entry:
- SELL SPY September 252 Call, currently $.53. Delta of short call: .18.
- BUY SPY September 257 Call, currently $.08.
- SELL SPY September 238 Put, currently $.97. Delta of short put: -.17
- BUY SPY September 233 Put, currently $.62
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.80. We recommend trying to get filled for the mid price; as 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,