RUT Condor 4-7

Not much to report today on the Condor... it was a nice day to do nothing.  One of the great advantages of trading non-directional strategies like this, is that many times they require little maintenance.  For a few days now, we have just watched as Theta accumulates in our favor.  This is nice for the working stiff... you can just check things at the end of the day, make some adjustments as needed, and not worry too much about it.  Today ended with the current price dead center in our profit graph:

That's about as good as it gets.  You might remember from yesterday that I had an order in to fill out the call side of this trade, but it didn't execute in the strong down-draft.  At this point, I will probably wait until we have an up day, and hope for a good one this week. 

Meanwhile, the RVX in peculiar fashion was down today.  The RVX tracks the implied volatility of the RUT index.  Generally, when the RUT is down the RVX is up, and the opposite is also true.  Today the RUT was down 3.54%... that's huge... and the RVX STILL went down.  This may imply that it's already high (which it is) or that there isn't a lot of concern about it plummeting further.  Probably both are true to some degree. 

RVX continues to trade in the extremely well defined channel.  Here's my forecast for the week.  Tomorrow we may get a little bounce, in which case it will come down further.  If it drifts down for a couple of more days we will be near the bottom of the channel.  This would be ideal for me to put the calendar on before the week is out.  We'll see...

Good Trading...