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 15 points. As of this writing, SPX is down 19 points, so outside the guidelines for a new trade entry.
Even if there is a rebound during the day, I feel it is the best risk management to sit on the sidelines and not risk live capital with a trade entry in what I see as an unfavorable environment. With the increased volatility, we will look at potential setups on Friday if the market is cooperating. With the rising concerns over the tension between the US and North Korea, we need to take that into consideration before jumping in to a new trade.
I will post an update tomorrow morning.
As always, stay keen on your risk management and trade carefully,