Income trades for Jan should start to go on today or tomorrow. Right now the normal spreads that I trade are out of whack right now. Calendars are traded in my portfolio and in one of the accounts that I manage. Since July the skew on $RUT put calendars as been between -.5 to -.9 which is manageable, but skews now are more like -1.77. With such a negative skew, its not worth trading in my opinion. I would rather wait a few days to see what volatility does, and then I will make my decision. Iron butterflies will be put on today or tomorrow. The reason I would wait till tomorrow is because of the big employment number. I would want to see what that number is and to make sure its not disastrous. But more then likely I will place my trade today, and I will post any new position as soon as I can.
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