I am not getting a clear sense of direction today; and will hold off on a new trade entry until this afternoon.
This morning's monthly Non Farms Payroll report caused a sharp rise at the open. However, as of this writing, SPX is only up a couple of points. For this reason, I am waiting until this afternoon for a new trade entry.
Because I feel the market is so "toppy", I will be on the cautious side once again on the new position. I will look to sell a put credit spread where the short put has a delta of -.15 or less.
Trade entry details will be posted later today.
As always, stay keen on your risk management and trade carefully,