IWM October Iron Condor Update; the Fed's "No Taper" Decision takes indices to all-time highs.
The markets skyrocketed a short while ago with the FOMC's announcement that they will put tapering on the back burner (for now).
Chairman Bernanke is speaking as I write this update regarding the October IWM Iron Condor. The adjustment guidelines call for the threatened side to be rolled when the delta of the short strike reaches 28. The gap following the announcement took the delta of the 109 short call strike to 31. However, I am not adjusting this position this afternoon, unless IWM reaches 108, one point short of the short strike.
The current position is $-9.54, so I will monitor carefully as quite often gaps that are so news-driven will reverse a portion of the move.
Trade updates will be posted as appropriate.
As always, stay keen on your risk management and trade carefully.