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Category: Dr. Duke's Blog
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The unemployment report surprised us with an increase to 9.7%, but this didn't faze the market. This market's resilience has surprised me over the past several sessions; it continues to shake off bad news and rally back from intra-day lows. RUT and SPX both closed up at $571 and $1016, respectively. However, the trading volume was low today going into the holiday weekend, so it is hard to have much confidence in one's conclusions here. Just reading the chart leads one to believe the dangers to delta neutral traders remain on the top side; however, I still have not seen much to make me optimistic about this economy. But the market doesn't agree with me. So I will continue to play what the market gives me, even while I am scratching my head.

My Sept iron condor stands at a P/L of +$2,740, delta = -$17, and theta = +$162 - excellent numbers. The Oct iron condor still has 41 days left in it, so the numbers aren't as pretty: P/L of +$550, delta = -$16, and theta = +$57. But they aren't bad. The theta/delta ratio is still very strong at 3.5.

With my positions sitting pretty, it will be easy to relax this holiday weekend. I hope you get to spend some quality time with family and friends.