Market Summary
Stocks prices gapped down today and triggered the exit rule for the SPY and IWM call spreads. Yesterday's Couch Potato Trade Update discussed the IWM trade but did not mention the SPY call spread. We exited the SPY call spread today after getting a trade alert indicating the target price was available. As displayed below, the SPY did not recover so now is still a good time to exit the trade if one has not done so.

SPY Position Update
SPY closed at $131.47 on Tuesday - the overall March position is approx. $2,000 in the black

The March 22nd Couch Potato published an April expiration month bear call spread
This call spread is approx. $850 in the black (see tables below)
$134 strike price short call delta is .0848 (92% probability this position will be profitable)

Exit Plan
As mentioned above The SPY call spread can be closed, as it is not worth the risk to maintain the position - the market could suddenly turn volatile prior to expiration day and threaten the short strike.

Gregory Clay

Couch Potato Trader Disclaimer
All results reported in this section are hypothetical. While the numbers represented here may have been achieved or beaten by our readers, we make no representation that any individual investor achieved these exact results. The tracking for the plays listed in this section uses closing prices for the day the newsletter is published and it is not meant to imply that any reader actually received those prices (though many often do) or participated in these recommendations (even though many do). The portfolio represented here is hypothetical and for investment education purposes only. It is only an illustration of what type of gains a knowledgeable trader might receive utilizing these strategies. If you don't get close to these results, guess what. It isn't the fault of the strategies.