Recommended trade entry for Monday, January 8
SPY Iron Condor for February monthly cycle, expiring February 16
Recommended Trade Entry:
- SELL SPY February 280 Call, currently .75. Delta of short call: .18.
- BUY SPY February 285 Call, currently $.17.
- SELL SPY February 264 Put, currently $.74. Delta of short put: -.15
- BUY SPY February 259 Put, currently $.48
It is recommended to place the order as a single entry: SELL " Iron Condor".
Current mid price for all four legs: $.84. 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,