The VIX is still too low to risk a short term trade entry
VIX 6 month chart
We are not recommending a trade entry today for the SPX weekly Iron Condor for the October 20 cycle. I am going to stay with the plan of "NO ENTRY" for a 7 - 8 day trade until the VIX gets over 11, so there will not be a trade entry today. I will review again in the morning and consider a trade if the VIX pops over 11.
I do have an alternate plan for early next week if we are not able to enter the October 20 cycle by tomorrow; I have been testing an SPX weekly Iron Condor with more time to expiration. I will review setups Monday or Tuesday for the November 3 expiration cycle (17 or 18 DTE), which may allow us to get further away from the short strikes. Also, by entering early in the week, we should be able to get a little theta buildup before the weekend risk.
I will post trade updates as appropriate.
As always, stay keen on your risk management and trade carefully.