Discussion
Last week went perfectly according to plan from the standpoint of preparing for a tactical pullback to the former ATH of SPX 4818.62. The market got a dovish Powell and a Goldilocks NFP, yet closed the week with a relatively nasty bearish reversal off a fresh ATH.
WOTE Special Ops closed the week in a fully allocated position in SPY June 28 $495 puts, and will look to close those with a 2-3x return circa SPX 4800 sometime this month. From there, Special Ops will fully allocate to SPY calls in preparation for a return to SPX 5000. From 5000 SPX will either roll over back down to the 4600-4700 range by the end of April or move up to 5500-6000. Either way, Special Ops will participate according to the plan outlined below.