The base is simple - Recent FOMC announcement revealed that the Fed will continue to push the market higher. The hitting of a new high level signaled the buy.
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@ShastryAnanth, I was using the minor guidance of buying the SP 500 at the close of the market.
At the moment of this review, I see that it dipped but eventually began to gain going into the green.
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Note - 24.62% profit on the option since June 20.
I am considering implementing an update to the risk management side. Namely, having a mental stop loss not for the option's price, but a market level.