SPY Iron Condor Options Trade Plan 2025-06-01

Join our Discord channel for live trading signals and discussions:

SPY Neutral Options Analysis Summary (2025-06-01)

Model Summaries

GK Report

Technicals (5-min & Daily): SPY trading in a tight range around $589.–$590; short-term bullish bias but weakening momentum (MACD divergence); RSI neutral to mildly bullish. Sentiment: VIX ~18.6 (normal); balanced call/put open interest; max pain at $585 suggests slight downward pull. Range Thesis: Moderately range-bound. Trade: Iron Condor – sell 592/595 calls, sell 587/584 puts; wing width $3; credit $1.32; max loss $2.68; 68% win probability; 65% confidence.

CD Report

Technicals: Similar to GK—price above key EMAs, RSI neutral, MACD bearish crossover. Tight 5-min range $587.76–$591.13. Sentiment: Falling VIX, neutral news, max pain $585. Range Thesis: Moderately range-bound. Trade: Iron Condor – sell 592/595 calls, sell 587/584 puts; wing width $3; target credit 30-35% (~$0.90–$1.05) but mid-prices imply $2.29 credit (likely overstated). Confidence 72%.

GM Report

Technicals: Consolidation after rally; 5-min & daily MACD bearish crossover; RSI cooling; support $587.76, resistance $590.94–$595.54. Sentiment: VIX down; max pain $585; OI clusters at $580P and $600C. Range Thesis: Moderately range-bound. Trade: Iron Condor – sell 598/603 calls & 580/575 puts; wing width $5; credit $1.91; max loss $3.09; risk/reward 1.62; confidence 70%.