Market Summary
Stocks worst week of the year has triggered the exit rule for our SPY May expiration bear call spread.

SPY Position Update
SPY closed at $137.10 on Monday – the May call spread is approx. $1,000 in the black

The April 18th Couch Potato published a May expiration SPY bear call spread
We plan on immediately closing out this position for an approx. $1,000 gain (see tables below)
We will enter an order to simply buy back the $143 strike price call contracts (versus doing a spread order). The $148 long call has minimal value to offset the fees and commissions, plus you probably won't be able to sell it anyway.

Exit Plan
As mentioned above, the exit rule for the SPY call spread has been triggered and we plan on immediately closing out this position.

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.