The unemployment report of 10.2% was greater than the 9.9% expected and caused a minor pullback in the markets at the open, but buyers quickly pulled it back up. Although the market basically traded sideways all day, I think this shows considerable buying strength for this market. RUT closed essentially unchanged at $580 and the SPX closed up about $3 at $1069.

My Dec iron condor on RUT now stands at a P/L of -$100, a position delta of -$42 and a position theta of +$103 - solid greeks with theta/delta > 2:1. When the market turned bullish early this morning, I entered a contingency order to buy protective Jan $630 calls if RUT broke through resistance at $580-$585 (I set the trigger at $587). Because of my aggressive rolling down of the call spreads early this week, I now have a fairly aggressive iron condor position at $500/$510 and $630/$640. We still have a lot of time left in this trade at 41 days. Stay tuned.