The markets traded downward today on reduced volume, again based on worries about European debt issues. SPX lost $12 to close at $1252 and RUT closed at $733, down $12 on the day. Trading volume was down across the board with 2.3 billion shares of the S&P 500 trading today. Trading volume was down 11% on the NYSE and down 13% on NASDAQ. Volume hit the 50 day moving average on the big down day last Wednesday and has steadily dropped every day since then. Again, we are seeing signs of a market trapped in a sideways trading range with many traders waiting on the sidelines for a "sign". The absence of any significant economic reports probably helped this largely choppy, somewhat downward trading day. The VIX moved up during the trading day to 33% but closed at 31%, a bit above yesterday's close at 30%.

My Nov RUT iron condor position stands at a P/L of +$820 with position delta = +$19 and theta = +$390. The Dec condor stands at a P/L of +$440 with position delta = -$26 and theta = +$97.

So now we return to Euro watching...