Kilburg Sells $720-$700 SPY Put Spread for $325 Income as S&P 500 Hits 18th Record
Updated
Updated · CNBC · May 15
Kilburg Sells $720-$700 SPY Put Spread for $325 Income as S&P 500 Hits 18th Record
1 articles · Updated · CNBC · May 15
SPY near $739.50, Kilburg sold a June 18 $720 put for $7.75 and bought a $700 put for $4.50, collecting $3.25, or $325, per spread.
A 1% S&P 500 pullback and a 6% jump in the VIX lifted option premiums, giving him a way to generate income while capping risk at $16.75 per spread.
The trade comes after the S&P 500 logged its 18th record close of 2026 and briefly topped 7,500, extending a nearly 20% rebound from March's 10% correction.
Kilburg argues the rally still has fundamental support from Q1 S&P 500 earnings growth of 27%, well above the 10-year average of 8.6%, even as 10-year Treasury yields hover near 4.58% and geopolitical tensions persist.
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