Trading today was choppy with mixed results; there were some bright spots in tech stocks, but otherwise, it was sideways to downward for most stocks. Overall trading volume was low; maybe traders are waiting to see what the earnings announcements look like next week. RUT is holding at the support levels of mid-May, closing at $480.98. I am still waiting for a strong day in the market to re-establish the call spreads of my Aug iron condor. That position now consists of 20 contracts of the Aug 420/430 put spreads and 1 contract of the Sept 430 puts. The position delta stands at +$50 while theta = $26. This position now stands at a net profit of $345; my options analysis software predicts I could tolerate a move down to about $460 and hold the position loss under $1,000. So we continue to wait and see if the markets break support and drop toward the March lows or meander sideways from here (a rally doesn't seem probable).
Mixed Market is Holding Support (for now)
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