Should I adjust position size before Gold steady as markets await Powell's comments on Iran war impact - Reuters?

No. Hold your current SPX iron condor position size steady. News-driven headlines like Powell comments on Iran create short-term volatility spikes that often reverse quickly and are already priced into elevated VIX levels. Adjusting size now introduces unnecessary emotional decisions and transaction costs that erode edge.

Focus instead on the ALVH methodology. Confirm your short strikes remain outside 1.5 standard deviations based on current VIX. If VIX has climbed above 18-20, consider tightening wing width on any new trades to 20-25 points rather than widening for more credit. This maintains positive theta while controlling tail risk.

Only reduce size if your portfolio delta exceeds 0.15 or if your defined-risk capital allocation per trade climbs past 3 percent. Otherwise let the iron condor run its 7-21 day cycle. Powell speeches typically produce one-day volatility events, not multi-week regime shifts. Stick to your predefined position-size rules based on account risk and VIX percentile, not headline noise.