Today was "quadruple witching", meaning stock index options, stock index futures, stock options, and single stock futures all expired today (technically, tomorrow, but...). Traditionally this results in a large volume spike but today's volume appeared to be even larger than normal. Trading in the S&P 500 stocks spiked up to 4.8 billion shares, way above the 50 dma at 3.7 billion shares. Trading volume on the NYSE jumped 53% and increased 40% on NASDAQ. But the markets ended the day largely unchanged with SPX at $1244, up $1 and RUT closing at $780, up $3.

Other than earnings reports from RIMM and Oracle, there wasn't much economic news today. The leading indicators for November came in at +1.1% and this was a favorable surprise to analysts, but it couldn't really get the markets moving. Index option settlement prices were determined this morning; RUT settled at $777.11 and SPX settled at $1242.35. So my 660/670 puts from the Dec condor expired worthless, completing my Dec iron condor trade. I was able to get my Jan SPX 1150/1160 put spreads on for $0.75 this morning; this was less credit than I wanted, but I decided not to move up to the 1160/1170 strikes and accept more risk in the event this market backs up. The adjustments I made this week improved the Greeks of the Jan condor considerably with a position delta of -$25 and theta = +$68.

So now we move into what presumably will be a slow couple of weeks in the market as traders focus on the holidays and their families. It should be a good time to have your delta neutral trades working.