SPY Breakout Momentum And A $21K Client Win

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Hey Options Trader,

The market continues to push higher with strong momentum, and this week is shaping up to be one of the most important we’ve seen in quite some time. With major earnings reports and a key Fed decision on deck, there are multiple catalysts that could fuel the next move. At the same time, we’re starting to see signals that require a bit more awareness as we push into extended territory. In today’s update, I’ll walk you through how I’m positioning, highlight a strong client result, and break down a high-probability trade setup.

Here’s what we are covering:

1. My market outlook for the week

2. Client Spotlight

3. Free Trade of the Week

4. Bonus resource and portfolio update

Market Snapshot

My outlook remains very bullish as the market continues to grind higher and push into new all-time highs. $SPY ( ▼ 0.3% ) is currently trading around 715, and with market makers pricing in a potential plus or minus $17 move, a push toward the 730 to 732 range would not be surprising this week. We have major catalysts ahead, including the FOMC meeting with Jerome Powell and a heavy round of MAG7 $MAGS ( ▼ 0.67% ) earnings, with several reporting midweek and Apple closing things out on Thursday.

While the RSI is showing overbought conditions, we’ve seen extended periods where markets remain overbought for weeks or even months during strong bull runs. The $VIX ( ▲ 3.65% ) is still sitting in the 18s, which tells me there is still slight fear in the market. If we see that break down into the 15 to 16 range, that would likely signal a short-term top and open the door for a pullback. Until then, I’m staying relatively aggressive with about 19% of my portfolio in cash and continuing to deploy capital into strong setups.

Client Spotlight

Stacey came into the program and in her very first month generated $21,000 in profit, and she has continued to stay consistent by hitting her 3% to 5% monthly return targets. That level of consistency is what compounds over time and builds real confidence.

At the same time, we’re seeing strong momentum across the community, with one client posting a $10,000 profit, Terry locking in $3,000, and Chris already at $17,000 for the month of April.

Free Trade of the Week

Ticker: $CRDO ( ▲ 1.59% )  
Strategy: Sell the May 29th $140 put
Premium Collected: $465
Duration: 32 days
ROI: 3.4%
Annualized Return (compounded monthly): approximately 49.3%
Risk: Assignment at 140, which aligns with the mid-Bollinger Band and represents a meaningful pullback level where ownership becomes more attractive

CRDO continues to show strong relative strength within the AI sector, particularly with its role in AI connectivity solutions. The company also has an extremely strong balance sheet with roughly $1.7 billion in cash and only about $16 million in debt, giving it significant financial flexibility. Selling the 140 strike allows us to position at a technical support level while getting paid to potentially enter at a discount.

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Bonus Video

Make sure to watch my most recent video where I break down my exit on $30K worth of LEAPS and walk through two new stocks I’ve added to the portfolio. It’s a great look into how I’m actively managing positions in this environment.

Stay patient, stay disciplined, and let the probabilities work in your favor.

Talk soon,

Ryan

Disclaimer: This newsletter is for educational purposes only and is not a recommendation to buy or sell any financial instruments. Trading involves risk, and you are responsible for your own investment decisions.