Markets traded in a sideways, lackluster way throughout the day. Most of the day was spent slightly underwater, but the buyers came back in around 2:00 pm and pushed the markets back to miniscule gains. RUT closed unchanged at $598 while the SPX moved up $4 to close at $1096. This a wonderful market for delta neutral traders, but it certainly is boring.

My Dec RUT iron condor now stands at a P/L of +$2,150, delta = -$72, and theta = +$164. I will probably be closing the 630/640 call spreads this Friday or possibly Monday because they will most likely be within two standard deviations (now at about one and a quarter standard deviations OTM). I will allow the Dec 500/510 put spreads to expire worthless. My Jan condor stands at a P/L of +$900, delta = -$50 and theta = +$103. So we wait to see if we just continue this slow sideways march into the end of the year. Traditionally, the funds and institutions are buying toward the end of the year to shore up solid year-end numbers, so perhaps this market will hold in this neighborhood for a while.