Today's reason for not entering a new monthly position is the reverse of yesterday. As of this writing, SPY has moved down over 1.4 points, which is more than a one day standard deviation. The current one-day standard deviation is 1.35 points, so I am not recommending a new position for today.

With a non-directional trade strategy such as the Iron Condor, it is not worth the risk (in my opinion) to open a new position and have it going against me the first day. I will re-visit the market conditions and hope to enter this trade tomorrow.

I will post trade updates as appropriate.

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

Dot Hazlin