I trade options, mostly neutral spreads, such as condors, calendars and the like. I have usually waited until one hour before market close to work on these trades, adjusting, adding new positions. It has been a real temptation to do something in the mornings, but I have resisted it, since a "knee jerk" reaction to a market move may well turn out less than wonderful by the end of the day. Do any of you have rules about what time of day you defend position, and what time of day you set up new trades? I am thinking that in an upward move, I will wait until the afternoon, but in what looks like a big downward move, just get out whenever I can. Thanks in advance for your comments.