Should I adjust position size before JOLTs Job Openings?

Before JOLTs Job Openings, reduce position size by 30-50% if your current iron condor is open. This event frequently spikes VIX 1-2 points in minutes and can widen SPX moves beyond normal expected range, directly threatening your short strikes.

Under the ALVH methodology, maintain strict wing-width discipline of at least 1.5-2x your credit received. If your current condor wings are too narrow relative to the elevated implied move JOLTs creates, the risk-reward skews negative. Smaller size protects your account while still allowing the trade to breathe.

If VIX is already above 18 heading into the release, cut size even more aggressively or simply sit out. JOLTs volatility tends to be short-lived but violent. Once the number prints and VIX settles, you can scale back in with fresh iron condors at proper wing width. Preserving capital before known volatility events is more important than capturing every theta day.