The markets seemed a bit lethargic today, largely trading sideways and weaker as the day wore on. The dollar strengthened throughout the day and that appeared to drive the major stock indexes lower. Trading volume was significantly lower as well. The RUT closed at $586, down over $6 while the SPX dropped $9 to close at $1057.

This sideways consolidating action was helpful for my condors after the required series of adjustments last week. My Feb iron condor now stands at +$1,614, delta = +$48, and theta = +$170. The Mar condor is near breakeven with delta = -$31 and theta = +$105. As I start to anticipate this coming Friday's decision point for our February positions, the Feb position is reasonably well positioned with the 640/650 call spreads at 2.2 standard deviations OTM and the 540/550 put spreads about 1.4 standard deviations OTM. We don't have any major economic announcements scheduled this week, so this choppy sideways trading may continue; however, news announcements concerning the financial stability of several European countries is the wild card (Greece, Spain, et al.).