SPX is out of entry range; no new trade entry today.
The guidelines for the weekly Iron Condor call for a "NO ENTRY" if SPX has moved a one-day standard deviation in either direction. According to my broker's calculation, a one-day standard deviation as of today is 13 points. As of this writing, SPX is up 15 points, so outside the guidelines for a new trade entry.
Even if the market settles later in the day, I still feel it is better risk management to sit on the sidelines and keep cash as our position. It is not worth risking hard-earned capital and taking on unnecessary risk. There is always another week to enter a new trade.
We are NOT recommending a new trade entry today, and will look for a better trade entry next week. Remember, "Infinite Patience Yields Immediate Results" (author unknown).
As always, stay keen on your risk management and trade carefully,