The markets opened down a little bit and traded very flat all day. Trading was at very low volume levels due to the holidays, but it appeared many traders wanted to take their profits before the year ended. The Russell 2000 Index (RUT) dropped over $7 in the last 30 minutes to close at $625, down $8 for the day. The S&P 500 (SPX) traded in a  similar fashion, closing at $1115, down $11 for the day, with about $8 of that loss in the last few minutes of trading.

This down move was helpful for my condors as we move into the last two weeks before expiration. My short term (31 day) condor on RUT stands at a P/L of -$1,050 with a position delta of -$31 and a position theta of +$114. The long term (51 day) condor stands at a P/L of -$600 with a delta of -$62 and a theta of +$228.

Thanks to each of you for your support this year. You have my best wishes for both a happy and prosperous 2010.