This environment is too risky for the SPX Weekly Iron Condor entry; here are three good reasons to sit on the sidelines.

We are not recommending a trade entry for the SPX weekly Iron Condor for the June 2 cycle. After reviewing potential setups this morning, I feel it is too risky for the following reasons:

The VIX is still hovering at record-low levels, so premium is non-existent for a decent trade. The volatility index drifted below 10 this morning.

Volume has dropped off to next-to-nothing, so fills will be very difficult to get executed.

We have the additional risk of a three-day weekend; anything can happen over the holiday weekend that could put a new position in serious jeopardy when the market opens Tuesday morning.

For those who may be disappointed, my apologies and of course traders may venture into own trade if they choose to do so. But for the benefit of the Couch Potato Trader trade plan and our annual goals, consider taking the "gift" of staying in cash this Holiday weekend and look for a better entry next week.

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

Dot Hazlin