Thanks to Janet Yellen and her testimony, the slight pullback helped in closing this week's SPX Iron Condor.
As I wrote earlier this morning, I am recommending the SPX weekly Iron Condor position be closed before the end of the day. I took advantage of the pullback this morning; a short while ago the closing order filled for a debit of .55. This represented a gain of $70, or 8% of the margin/risk.
Some more aggressive traders may choose to take this position overnight, but being the conservative trader that I am I felt it was best to take the risk off the table. With only 2 days remaining in this week's cycle, a move against the position in the morning would be difficult to recover from.
The next scheduled trade entry will be Thursday, as long as the market is within the guidelines.
As always, stay keen on your risk management and trade carefully,