Should I adjust position size before Gold eases on higher oil prices, markets await Powell's remarks - Reuters?

Yes adjust your position size now. With VIX likely to tick higher on oil-driven uncertainty and Powell remarks this week tighten your iron condor sizing to 0.5-0.75 of normal. Current VIX around 15-17 still supports iron condors but the headline mix raises tail risk so cut exposure before gamma and vega expand against you.

Use the ALVH framework: confirm your short strikes remain outside 1 standard deviation on the expected move for the next 5-7 days. If any short delta is inside that zone or if wing width is less than 40 points on SPX reduce size immediately and consider rolling the threatened side out 5-10 points or to the next weekly cycle. Keep total capital at risk under 2 percent per trade until the event passes.

Wider 50-60 point wings perform better in this environment because they give more buffer against the volatility spike. Do not add new positions until Powell speaks and oil stabilizes. Smaller size now preserves dry powder and prevents one adverse move from forcing an early exit.