The markets appeared to be anticipating good news from the election results and traded up somewhat today. But tomorrow may be  a very different day. We will start with the ADP employment report before the open coupled with the election results, and then the FOMC announcement in the afternoon. It could be a very volatile day. SPX closed today at $1194, up $9 and RUT gained $14 to close at $713. Trading volume was basically flat with three billion shares of the S&P 500 stocks trading; trading was down 6% on the NYSE and up 1% on NASDAQ.

My Nov condor has a delta of -$142 and theta = +$234. The theta/delta ratio is good, but our price risk, as represented by delta, is too large. The Dec condor has a delta of -$31 and theta of +$92. So its theta/delta ratio is even better but the price risk is much more manageable.

Tomorrow should be interesting.