The Bank of Japan disappointed traders by failing to augment its stimulus programs, so markets around the world sold off. Heaven help us when the Fed announces they are withdrawing! SPX opened and traded down as low as $1623 and then recovered nearly all the way to $1640 by noon, only to sell off and close near the lows of the day at $1626, down $17. RUT lost $11 to close at $981. As one might expect with these wild swings, VIX increased by nearly two points to close at 17.1%.

Trading volume increased with 2.4 billion shares of the S&P 500 stocks trading. Trading volume increased 17% on the NYSE, but only increased 1% on NASDAQ.

There was no economic data of any significance reported today.

My June iron condor stands at a net gain of +$180 or +1% with delta = -$9 and theta = +$163. The July position stands at a P/L of +$740 or +4% with delta = -$11 and theta = +$89. Today's increase in volatility pushed the P/L of these positions lower (iron condors are negative vega positions), but the health of these positions is nearly ideal (note the small deltas).

What surprises await us tomorrow?