Market Summary
June quarterly options expire tomorrow and we expect our SPY bull put spread and GLD iron condor to expire worthless.

SPY Position Update
SPY closed at $132.79 on Thursday – the June quarterly expiration put spread is approx. $1,100 in the black

The June 6th Couch Potato published a June Quarterly end-of-month expiration SPY bull put spread
We plan on letting this position expire worthless for an approx. $1,100 gain. However, if prices gap down hard tomorrow then we need to play it safe and buy back the short $125 strike put contracts. (see tables below)

GLD Position Update ---------------------------------------------------------
GLD closed at $151.05 on Thursday – the June quarterly expiration iron condor is approx. $2,000 in the black

The June 13th Couch Potato published a June Quarterly end-of-month expiration GLD bear call spread
We plan on letting the call spread expire worthless for an approx. $1,000 gain. If the unexpected happens and gold prices skyrocket higher tomorrow then we will buy back the short $164 strike call contracts. (see tables below)

The June 6th Couch Potato published a June Quarterly end-of-month expiration GLD bull put spread
We also plan on letting the put spread worthless for an approx. $1,100 gain. However, if prices gap down hard tomorrow then we need to buy back the short $148 strike put contracts. (see tables below)

Exit Plan
As mentioned above, the June quarterly options expire tomorrow and we expect the SPY call spread and GLD iron condor to expire worthless. The GLD short put will be on a short leash in case gold prices plunge tomorrow and we need to enter an exit order.

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.