The SPX is trading at 2930 and using the sale of this 2970-2980 call spread will look to take advantage of us seeing a pullback. **The only way I do not execute this trade is if we are likely to close the week above 2939 in the SPX.**
Risk & Reward
Our trade will use $8,750 in margin and so long as close below 2970 by next Friday, May 3rd, we will look to yield 14% return.