SPY Position Update -------------------------------------------------------------
SPY closed at $142.89 on Friday

The October 11th Couch Potato published a November expiration SPY put spread (see table below)

SPY Risk Analysis
We have not had the opportunity to publish a SPY call spread set up, therefore the only risk is stock prices continuing to drop and threatening our $138 strike price short put.

TLT Position Update -------------------------------------------------------------
TLT closed at $123.97 on Friday – the October position closed approx. $2,000 in the black

The October 1st Couch Potato published an October expiration TLT bear call spread
On October 7th we suggested closing out the call spread for an approx. $1,000 gain (see tables below)

The September 20th Couch Potato published an October expiration TLT put spread
On October 11th we suggested closing out the put spread for an approx. $1,000 gain (see tables below)

The October 11th Couch Potato published a November expiration TLT call spread (see table below)

TLT Risk Analysis
We have closed out our October TLT credit spreads with gains and there is no money on the table for the current expiration month. In addition to the November TLT call spread mentioned above we published a put spread. However Treasury bond price action did not make that trade available, therefore the only risk is a price surge threatening our November $128 strike price short call. Next week we will evaluate whether to go forward with the TLT put spread.

GLD Position Update -----------------------------------------------------------
GLD closed at $170.06 on Friday – the October position is approx. $1,900 in the black

The September 20th Couch Potato published an October expiration GLD bear call spread
On October 10th we suggested closing out the call spread for an approx. $1,000 gain (see tables below)

The September 20th Couch Potato published an October expiration GLD put spread
The put spread is approx. $900 in the black (see tables below)
$165 strike price short put delta is -.0800 (92% probability this position will be profitable)

The October 11th Couch Potato published a November expiration GLD put spread (see table below)

GLD Risk Analysis
As mentioned above we closed our October GLD call spread with a gain. The current risk is gold prices crashing and threatening the $165 strike price put spread prior to October option expiration on Friday. In addition to the November GLD put spread we published a call spread. However gold price action did not make that trade available and next week we will evaluate whether to attempt another call spread.

Exit Plan
October options expire this coming Friday. The only open position that we need to manage for the October expiration are the GLD put spread contracts. We will keep a tight leash on the put contracts in the event gold crashes prior to expiration.

Happy Trading

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.