Market Summary
Stock prices moved in our favor today and triggered the exit rule for our SPY call spread. It is probably not worth the risk to delay closing this trade – note in the SPY 60 min. chart how prices started recovering off the daily lows at the end of trading. Also, the daily chart displays the 'hanging man' candlestick technical chart pattern for Monday which is considered a possible bullish reversal sign.

SPY Position Update
SPY closed $124.21 on Monday – the December position is approx. $2,500 in the black

The November 30th Couch Potato published a December expiration SPY bear call spread
We suggest closing out this position for an approx. $1,200 gain – if you have problems selling the long $134 strike price call as part of a spread trade; we can just simply buy back the short $129 calls as a single leg trade. (see tables below)

Exit Plan
As mentioned above the SPY bull call spread exit rule has been triggered and if the market cooperates we plan closing out this position. But if the market gaps higher tomorrow we will probably hold off until we get an acceptable sale price.

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.