VIX hovering at 3 year lows; too risky for a weekly trade entry today.
It seems there is no fear out there, at least according to the CBOE's volatility index VIX. Jim Brown posted this VIX chart in our Option Writers newsletter last night. The VIX hit a 10-year intra-day low on Tuesday at 10.22, and is now holding at a 3 year low with yesterday's close at 10.85.
I cannot justify investing my own capital, and recommending you do the same, for a short term position such as the weekly Iron Condor at this low volatility level. We will not be recommending a trade entry for today (Thursday). I looked at various trade setups this morning and don't see anything worth entering.
I will review again and consider recommending a trade entry Friday if the VIX is above 11, and there is sufficient credit for what I feel is a decent risk:reward.
Trade updates will be posted as appropriate.
As always, stay keen on your risk management and trade carefully,