Should I adjust position size before Retail Sales YoY?

Before Retail Sales YoY, reduce position size to 50-60% of normal. This release frequently triggers sharp SPX moves that can breach iron condor wings within minutes, especially when VIX sits above 15.

Under the ALVH methodology, keep your vega exposure light ahead of high-impact data. Retail Sales has shown 0.8-1.2% SPX spikes on surprise prints in the last eight releases. With standard 10-15 delta wings, a 0.9% move already threatens your short strikes.

If current VIX is 18 or higher, cut size further to 40%. Wider 20-25 point wings give more room but still require smaller notional size because the post-release IV crush can be uneven across the chain.

Enter or adjust the iron condor only after the number prints and initial volatility settles. Pre-event, the correct trade is often to be flat or half-size at most. Protect capital first, then resume full size once the data-driven move is absorbed.