Based on actual fills reported by subscribers, I am tracking a position that includes eight Oct 21 200-195 put spreads, twelve naked Oct 21 200 puts and two Nov 200 puts. Our total risk has been reduced by judicious timing and partial-profit-taking to just $4 — the price of an ice cream cone. These are pretty good odds for what amounts to a longshot bet. How good? If SPY were to collapse this week, falling below 195 (see inset), the position would show a profit of about $11,000. Plus, the November 18 200 puts would still have nearly a month left on them. I will continue to offer juicy set-ups like these, since they give us a way to leverage a stock market crash without risking more than literal pocket change.  It is irresistible fun to make these bets for two reasons: 1) a market crash at some point is absolutely inevitable, and 2) we  can do so with almost zero risk. If you’re eager to play, stay tuned to my SPY touts and to the chat room for opportunities as they develop in real time. ________ UPDATE (October 23): Our spread position went out worthless, but we lost nothing because of the timely offset we’d acquired. Because the bull market is very probably in its death throes, we’ll continue to look for risk-less bear spreads to leg into. In the meantime, the tracking position still contains two (or some multiple thereof) Nov 2 200 puts.