So far so good on Monday entry for the SPX weekly Iron Condor.

We have had two good weeks for the SPX weekly Iron Condor entering Monday rather than Friday, eliminating the weekend risk. We were still able to get a decent credit, and both weeks' trades reached target gain. It's obviously too early to draw any conclusions with only two weeks of history, but we will continue to test the shorter term entry for next week's cycle.

SPX 6 month chart

It appears that the rally is continuing after the recent lows. As of this writing, SPX futures are down about 8 points, so we may see a little bearish action today. This afternoon brings the release of the FOMC minutes, which could affect the market either way even though there are no surprises expected.

Rather than taking on the weekend risk by entering the October weerkly position Friday, we will wait once again and enter on Monday as long as the market is within reason and we can still get the minimum recommended credit.

Trade updates will be posted as appropriate.

For those unfamiliar with the strategy, the trade management guidelines for all the Couch Potato Trader plays were most recently published on August 20, 2015 and can be found here: Link to Articles

If anyone has any questions on the guidelines or the strategy, please feel free to email me.

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

Dot Hazlin