It appears that the debt ceiling and government shutdown "may" get resolved before the deadline.

As of this writing, Senate leaders have agreed on a deal that would end the government shutdown and increase the debt ceiling. The deal still has to pass Senate and House votes; it is expected that President Obama may be presented with a bill for signature before the end of the day.

IF this all occurs, and IF the market is within our guidelines for new trade entry tomorrow, we do plan to enter an SPX weekly iron condor for the October 4 cycle. The option code for next week's cycle is SPXW131025, expiring October 25.

For those of you who may be unfamiliar with the strategy, the guidelines were published in an article dated July 4, 2013. The link to that article can be found here: Link to Articles

IWM November Iron Condor Update:

IWM November Iron Condor as of today:

Despite all the nonsense going on in Washington, the position is holding up very well, and is currently +$22.09. The adjustment trigger is at 1 point before the short strike on either side. The adjustment is to roll the threatened side 3 points, as outlined in the article posted on September 26. It is a trader's choice whether or not to move the "unthreatened" spreads up 3 points, which will help offset the cost of rolling out the spreads in trouble. Target gain remains at 10% of actual margin, or $41.

I will post trade entry details for the Iron Condor tomorrow.

As always, stay keen on your risk management and trade carefully.

Dot Hazlin