S&P volatility exploded Thursday, causing call options we’d recommended less than a week ago to nearly triple in price. The trade was detailed on Facebook under the headline Leveraging an October Disaster with Cheap Calls.  You can tune in on my forecasts and recommendations every Friday for free by clicking here. Thursday’s exhilarating plunge was not quite the disaster we’d had in mind, but it’ll do, at least for the moment. The trade entailed buying October 30-35 call spreads for 0.50 or less. The spread dipped to as low as 0.21 on Tuesday and was an easy buy in any case for under 0.25. Yesterday it shot up as high as 0.81 as stocks fell, allowing subscribers to easily ‘double out’ or even triple their initial stake. Although the selloff may have disappointed permabears because of the upturn late in the session, there were indications it has further to go. That is something best judged, however, by watching how AMZN trades on Friday. See my AMZN tout on the Rick’s Picks home page for details. _______ UPDATE (Oct 7, 5:08 p.m. EDT): The spread, which will expire on Friday, traded as high as 1.00, so anyone who took a position based on my guidance should be out of at least half and holding what remains for free. You’re on your own now, but I’d suggest holding at least a small portion of what’s left for a swing at the fences, including one or two contracts until Friday. Here’s a chart that shows VXX’s move off the launching pad.