"When the VIX is low, it's time to go". This quote is appropriate for this morning; credit is too low for a new trade recommendation on the weekly Iron Condor.
I wrote in this weekend's update that with the VIX now under the historical average of 20, I was concerned about being able to get a decent credit for the continuation of our Monday entry on the weekly Iron Condor. As of this writing, the credit is only 1.00 for the strikes within the guidelines, which is below the suggested minimum of $1.25 for a new trade entry.
There will not be a trade recommendation today for the SPX weekly Iron Condor; we will likely have to go back to a Friday entry if the VIX keeps drifting down.
Trade updates will be posted as appropriate.
For those unfamiliar with the strategy, the trade management guidelines for all the Couch Potato Trader plays were most recently updated on August 20, 2015, and can be found here:
Link to Articles
As always, stay keen on your risk management and trade carefully,