Market Summary
Stocks have climbed higher from recent lows and are trading range bound. June monthly options expire tomorrow and we expect our June expiration bull put spread to expire worthless.

SPY Position Update
SPY closed at $133.47 on Thursday – the June put spread is approx. $1,200 in the black

The May 15th Couch Potato published a June expiration SPY bull put spread
We plan on letting this position expire worthless for an approx. $1,200 gain. However, if prices gap down hard tomorrow then we need to play it safe and buy back the short $126 strike put contracts. (see tables below)

Exit Plan
June monthly options expire tomorrow and as mentioned above our SPY put spread should expire worthless as the recent price correction never did reach our $126 short strike.

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.