BAC's and GE's earnings announcements seemed to set a sour mood for the markets today, with losses through most of the day, although some of the losses were erased in afternoon trading. The SPX closed down at $1088 and RUT closed down about $7 at $616. RUT closed at an intermediate support level at about $615. If market weakness continues Monday, the next support level is at around $600. The settlement value for RUT has not yet been posted, but RUT traded in the range of $612 to $619 in the first hour, so that is the ballpark for the October settlement value.

All of the options expired worthless in my RUT Oct 540/550 and 660/670 iron condor for a net gain of $715, or 6%.

The RUT Nov 520/530 and 680/690 iron condor stands at a P/L of +$1,960, delta = -$22, and theta = +83.

I closed my GOOG Oct/Nov $530 calendar this morning during the first few minutes of trading for $11.10, for a gain of $1,090 or 11%. The extreme IV of the Oct $530 calls disappeared instantaneously, but the IV decreased more slowly in the Nov calls, enabling my profitable exit. Actually, I was surprised at how much IV bled out of the Nov calls during the day; they went from about 35% to 23% . In contrast, the Oct $530 calls were at 99% yesterday. I didn't expect the IV of the Nov calls to be so pumped up for an earnings announcement in October.

The AAPL Nov/Jan 180/200 double calendar is essentially unchanged at a P/L of -$200, delta = +$48 and theta = +$85. However, watching the significant IV decrease in GOOG's Nov calls has me concerned about this trade. Weakness in AAPL's price today is also concerning. I may close this trade Monday if AAPL continues to look weak.