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Category: Dr. Duke's Blog
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The markets didn't do much of anything today. RUT closed down a couple of dollars to $556 - still holding at support around $550. The SPX closed down $3 to $995, still in its support area; look at the SPX chart for Aug 4-14 and see how it held in the range of $992 to $1012 for several days; that is the support level I'm watching. A strong breakout at higher volume below $990 would be of concern; otherwise, this market is just consolidating after a huge rally. And we may be seeing a bit of a slowdown before the holiday weekend.

My condors are loving this consolidation - delta stays neutral while positive time decay works in my favor. The Sept condor stands at a P/L of +$1920, delta = +$32, and theta = +$185, while the Oct position stands at a P/L of +$70, delta = -$9, and theta = +$63.