Should I adjust position size before ISM Manufacturing PMI?
VixShield Answer
Yes adjust position size before ISM Manufacturing PMI. Release at 9:30 CT often triggers 0.6-1.2% SPX moves that can breach short strikes even on well-placed iron condors.
Rule from ALVH: if VIX is above 16 reduce size by 40-50%. If VIX is 13-16 cut size by 25%. Below 13 you may keep full size but still tighten wings 5-7 points on both sides.
Current wing-width management: before high-impact data like ISM move your short strikes to at least 1.8x expected move instead of the normal 1.4x. This gives the condor more breathing room while keeping credit similar by selling closer to ATM.
Enter or adjust the trade at least 45 minutes before the print. Never add to a position within 15 minutes of the number. If you are already in a condor with less than 18 DTE, consider rolling the entire position out 7-14 days before the report to reset delta exposure.
Position sizing and wing width are your primary defense here. VIX level tells you exactly how much to shrink.
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