Was yesterday a Holiday too? Volume on SPY was the lowest since December 24.
Markets in Europe and Asia were closed Monday, it almost appeared that US markets were not even open there was so little volume.
SPY 6 month Chart:
Our May Iron Condor is hovering at breakeven, the short call strike of 190 is just 3 points away. SPY will have to run through the all-time high of 189.70 to reach the short. If this occurs, the position will be closed as I've outlined previously. The position as of the close yesterday is shown below:
SPY May Iron Condor:
Futures are trading very flat as of this writing; "perhaps" a few days of consolidation or a pullback from this level would be welcome for the trade. Will that happen? This is a very heavy week for earnings, with over 500 companies reporting. So we will wait and see how the week plays out.
I will post an update as appropriate.
Stay keen on your risk management and trade carefully,