Honestly, just looking to lock in some premium. I DO expect SPY to breakout and make new all time highs (again) very soon. However, getting called away at $303 wouldn't be horrible. Most likely, my plan will be to buy to close these calls if we pull back or chop sideways a bit.
The move from January to May is a 1,2,3,4,5 clear as day, the dip likely a wave 2 on the larger timeframe and we could very well be in the beginnings of a wave 3. I like the lock in premium bit, and agree that we’re likely to make new highs.