As everyone left the offices on Wall Street, trading volume collapsed and the markets largely traded sideways with minor losses. The SPX lost $2 to close at $1257 while RUT closed at $789, down $2. Only 1.9 billion shares of the S&P 500 stocks traded today, well below the 50 dma of 3.6 billion shares. Trading volume dropped 18% on the NYSE and was down 21% on NASDAQ. Economic news today was a mixed bag. Durable goods orders dropped 1.3% in November, but new home sales increased to 290k from last month's 275k. Initial unemployment claims dropped a bit to 420k from last week's 423k while continuing unemployment claims dropped by 103k to 4.064 million. The University of Michigan Consumer Sentiment survey increased a bit in December to 74.5 from 74.2. This collection of economic data was insufficient to stimulate any real action in the markets; everyone was already on their way out the door. My Jan iron condor on SPX continues to meander along at the edge of adjustment with delta = -$94 and theta = +$166. Earlier this week, I established a Feb RUT iron condor at 680/690 and 860/870 for a credit of $3300 on 20 contracts. The position delta = -$33 and theta = +$78. Both short strikes are standing at about 11-12 delta.

The markets are closed tomorrow, so all of our positions are just losing time value while you relax with the family. Whether that be our ITM debit spreads on GOOG and AAPL or our iron condors, time is on our side. Enjoy the holiday. At this time of the year, it is easy to think of the family members who are gone; remember to be thankful for the family we have with us.