Since we are not holding a live trading session tomorrow, we still wanted to give out a new trade today.

This new trade is like our broken wing butterflies but technically this is a broken wing iron condor like our current XLF trade.

XME has been trending up. We can take advantage of that with a neutral to upside bias trade. Also, we’ve been watching XME for a while now and the liquidity has improved to the point, we can trade it again. We have traded it before successfully but have not used it in a while. 

NEW TRADE: Broken Wing Iron Condor

SPDR Metals Mining ETF (XME):  46.87

TRADE ACTION: OPEN the XME 21 Oct 40/45.5 puts and the XME 21 Oct 49.5/50 calls broken wing iron condor for a credit of around 1.25 to 1.35

STO the XME 21 Oct 45.5 put

BTO the XME 21 Oct 40 put 

STO the XME 21 Oct 49.5 call

BTO the XME 21 Oct 50 call

The 50k Account is trading 5 contracts and will require a margin of around $2775.

The 10K account will trade 2 contracts and will require a margin of around $1100