Premium is non-existent this morning; it's too risky to enter a new weekly trade until volatility picks up.

We are not recommending a trade entry this morning for the SPX weekly Iron Condor for the July 21 cycle. After reviewing potential setups this morning with the VIX hovering at 10, I could not find a decent setup for what I consider a reasonable trade. Fed Chair Janet Yellen is testifying again today, and that could likely drive the market even higher, and the VIX lower.

I will monitor price action through the day, and if I see a trade with a decent risk/reward, I will post an entry recommendation. If not, I will review setups again tomorrow morning and post an update. As always, stay keen on your risk management and trade carefully.

Dot Hazlin