Bullish SPY call thesis based on a potential Supreme Court ruling triggering corporate refunds and volatility expansion.
Unpriced research observations (excluded from Calls and Returns):
SPY โ LONG Author bought SPY Feb 27 '26 $730 calls as a bullish directional bet; returns would track SPY underlying direction, not option P&L. The thesis is that a Supreme Court ruling against Trump could trigger ~$200B corporate refunds, boosting S&P earnings and removing tariff drag, with volatility expansion and hyperscaler earnings pushing SPY above $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).