Author bought SPY Feb 27 '26 $730 calls based on a expected SCOTUS ruling and hyperscaler earnings.
Unpriced research observations (excluded from Calls and Returns):
SPY — LONG The author bought SPY Feb 27 '26 $730 call options expecting the underlying SPY to rise. He cites a potential Supreme Court ruling against Trump that would trigger ~$200 billion in corporate refunds, increasing S&P earnings and removing tariff drag. He also sees low implied volatility expanding on the ruling and hyperscaler earnings carrying SPY toward $730. ambiguous_option_contract
If the ruling goes down against Trump, it likely triggers \~$200 billion in immediate refunds to corporations. This cash hits balance sheets instantly, increasing S&P earnings while simultaneously removing the tariff drag (disinflationary).