SPX Weekly Iron Condor Test position for June 4 Cycle; not enough premium to enter.

In looking at setups for the weekly SPX Iron Condor, as of this writing the appropriate short strikes of a .10 delta would be the 1985 call and 1925 put. However, the credit for this position would only be $.85, too low to even place this as a test/paper position.

The VIX continues to drop again this morning, now at 10.44. At these levels, it is just about impossible to receive enough premium and remain far enough away from SPX price to warrant the risk. Below is the 5 year/weekly chart:

VIX 5 year chart

We will continue to manage the monthly SPY Iron Condor for July; a trade update will be posted this weekend.

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

Dot Hazlin