SPY Iron Condor Options Trade Plan 2025-06-03

Join our Discord channel for live trading signals and discussions:

SPY Neutral Options Analysis Summary (2025-06-03)

Model Summaries

GK Report

SPY at $596.09 with minimal 24 h change and slight 5 d uptick, indicating consolidation. Short-term EMAs (10, 50) just below price; long-term EMA (200) well below—neutral-to-bullish bias. 5 m RSI ~50, Bollinger Bands narrowing, MACD histogram flattening—supports range trade. VIX 17.8 normal; max-pain at $585; high OI around $585 puts. Recommendation: Iron Condor 591/588 puts and 601/605 calls for $1.58 credit, $4 wings, risk $1.92, R/R ~0.82, 70% confidence, entry at open.

CD Report

SPY consolidating tight intraday range $595.52–596.30 above key EMAs; daily RSI ~68 hints at overbought. 5 m Bollinger bands contracting; VIX falling; options flow elevated at $600 calls and $585 puts. Moderately range-bound thesis. Recommended Iron Condor expiring Jun 6: sell 603/606 calls and 590/587 puts, $3 wings, $1.10 total credit (~36.7% of wing), max risk $1.90, R/R ~0.29, 72% confidence, entry at open.

LM Report

Technicals echo neutral short-term but overbought daily RSI; MACD bearish on both timeframes. VIX normal; max-pain 585 suggests pullback risk. Moderately range-bound. Proposed Iron Condor: sell 598/600 calls and 592/594 puts, $2 wings, target credit $0.60–0.80 (~30–40% of wing), 70% confidence, entry at open.