Should I adjust position size before Bitcoin seals best monthly gain in a year as S&P 500 hits fresh all-time high?

With SPX at all-time highs and Bitcoin posting its strongest monthly gain in a year, implied volatility is likely to remain suppressed or grind lower. This environment favors iron condors but requires disciplined position sizing and ALVH adherence.

Do not increase size now. Current VIX levels near or below 15 signal elevated risk of a volatility snap-back even as equities grind higher. Stick to your established ALVH rules: size each trade so that defined max loss equals no more than 1-2% of portfolio capital on a 45-50 delta iron condor with 45-50 DTE. Maintain consistent wing width, typically 50-75 points on SPX, to balance premium collection against adverse moves.

If you are already in an iron condor, monitor for early adjustment triggers per ALVH: roll the untested side if breached or if credit erosion exceeds 30% of initial premium. Avoid adding new contracts simply because the market feels strong. Fresh highs increase the probability of mean-reversion shocks that can breach wings quickly.

Trade the same normalized size you use in similar low-VIX regimes. Preserve dry powder for higher-VIX setups where edge improves. Patience here protects capital more than chasing the current momentum.