SPX Weekly Iron Condor Closed This Afternoon.
Further to my post earlier this morning and being the conservative trader I am before major economic events, this week's Iron Condor was closed for a net breakeven on the position. This morning the put spreads were closed for a debit of .15, a short while ago the call spreads were closed for 1.40, for a breakeven on the position after commissions.
I'm watching the VIX creep up steadily throughout the day, and felt it wasn't worth the overnight risk to stay in the position until tomorrow. As I've said before, cash IS a position and I'll happily sit through the FOMC announcement tomorrow without worry about a weekly trade. More aggressive traders may choose to stay in overnight.
The next weekly trade entry day will be Thursday, if market conditions are suitable, for the September 4 cycle.
The monthly IWM Iron Condor position for October will remain open, and managed as per the guidelines.
Trade updates will be posted as appropriate.
As always, stay keen on your risk management and trade carefully.