Market Summary
Stocks prices turned down today and triggered the exit rule for the SPY call spread. As displayed below, the SPY did not fully recover so now is still a good time to exit the short call position if one has not done so.

SPY Position Update
SPY closed at $128.78 on Monday - the call spread is approx. $1,300 in the black

The July 5th Couch Potato published an August expiration month bear call spread
This call spread is approx. $1,300 in the black (see tables below)
If the SPY price does not recover tomorrow we should be able to buy back our $138 strike price short call as indicated below. We will hold on to the $143 long call just in case we get the opportunity to generate additional premium dollars by opening another short position against it.

Exit Plan
As mentioned above the exit rule for the SPY call spread has been triggered and we plan on buying back our short call contracts.

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.