Yesterday's buying continued today, setting new highs on the S&P 500 with a close at $1118. RUT closed near its highs for the year at $624.  Surprisingly, this occurred in the face of a stronger dollar and downwardly revised third quarter GDP data. On the other hand, November existing home sales were up over 7% from October. VIX hit a new low for the year as it dropped below 20, but trading volume was low, raising questions about the ability of this market to follow through.

These increases on RUT are beginning to squeeze my Jan iron condors with the P/L of my Jan 510/520 650/660 condor dropping to +$860 with delta = -$166 and theta = +$147. The RUT 570/580 and 630/640 condor stands at a P/L of -$230 with delta = -$80 and theta = +$72. Both condors will require adjustment if RUT moves up much more. So we will see what presents the market has for us this week...