The S&P 500 Index broke through the top of its recent trading range and triggered our July put spread exit rule.
SPY Position Update
SPY closed at $136.79 on Thursday â€“ the July put spread is approx. $900 in the black
The June 25th Couch Potato published a July expiration SPY bull put spread
We plan on immediately closing out this position for an approx. $900 gain. However, if prices gap down hard tomorrow and don't recover, then we will hold off on the trade until we get the preferred price. (see tables below)
As mentioned above if the market cooperates we plan on exiting the July SPY put contracts
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.