The three day stock rebound has triggered the exit rule for our Quarterly expiration
SPY Position Update
SPY closed $125.27 on Thursday â€“ the December position(s) should close at approx. $4,500 in the black
The December 5th Couch Potato published a December Quarterly expiration SPY bull put spread
We suggest closing out this position for an approx. $900 gain â€“ if you have problems selling the long $112 strike price put as part of a spread trade; we can just simply buy back the short $117 puts as a single leg trade. (see tables below)
As mentioned above the SPY Quarterly bull put spread exit rule has been triggered and if the market cooperates we plan on closing out this position. But if the market gaps lower tomorrow we will probably hold off until we get an acceptable sale price.
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.