Wow! The market's concerns about Ireland and European sovereign debt sure went away in a hurry. The volatility of this market just continues to amaze me. SPX surged ahead $18 to close at $1197 and RUT closed at $721, up $13. And these gains were made on strong volume. Trading on the NYSE increased 30% and increased 12% on NASDAQ. The S&P 500 stocks traded 3.7 billion shares, above the 50 dma. The VIX dropped over three points to 18.75%. Such a strong move on increased volume with a large decrease in the VIX is certainly bullish, but one has to wonder about this market's fickle behavior.

My Dec iron condor is trading at about breakeven with a delta of +$3 and theta = +$66. I removed my put hedge today, but one still has to watch this market closely.