Parity Outcomes

SPY Protection Strategies

Compare three ways to invest in State Street SPDR S&P 500 ETF Trust with different protection and upside profiles.

SPYState Street SPDR S&P 500 ETF Trust

Your protection options

Protection period: 335 days
Expiration: Sep 30, 2027
Expected dividends through Sep 30, 2027: $7.32/share · ~+$732 total

Included in Parity's estimated outcome calculations. Dividend estimates may change before payment.

One investment unit = 100 shares of SPY

For the selected strategy: Buffer

Stock purchase(100 × $756.04/share)$75,604
Option package cost+ $72

The options add about $72 to your total cost.

Total required today$75,676

One protection unit = 100 shares of SPY

If you already own 100+ shares of SPY

Stock purchaseNot required
Option package cost+ $72

The options add about $72 to your total cost.

Total required today$72

Customize your protection

12 months · 11% target

More protection generally means less upside potential.

Listed options expire on fixed dates, so the actual expiration may differ slightly from the selected period.

Choose how much protection you want

Buys at ask, sells at bid. · Parity's baseline.

These strategies generally move from less protection and more upside potential to more protection and a clearer limit on losses. Select each strategy to compare the tradeoffs.

Less protection
More protection

Buffer

Best if you want more upside while still having coverage for the first part of a market decline.

First-Loss Protection

11.28%

Protected against

If State Street SPDR S&P 500 ETF Trust drops 20%, you lose 8.72%

Max Gain

+12.68%

≈ $9,588.44

Max gain regardless of how much State Street SPDR S&P 500 ETF Trust rises

The first 11.28% of market losses are covered by the option package.

Your Outcome at Expiration

How this strategy behaves across different market scenarios.

Your outcome
Loss zone
Protected zone
Growth zone
Capped zone
-40%-30%-20%-10%0%10%20%30%State Street SPDR S&P 500 ET Return-20.00%0%
📉

Loss Zone

Beyond buffer

Protected

11.28% buffer

Growth

Participate

Capped

Max 12.68%

Examples at expiration

State Street SPDR S&P 500 ETF Trust falls 10%

≈ 0%

State Street SPDR S&P 500 ETF Trust rises 20%

+12.68%

State Street SPDR S&P 500 ETF Trust rises 100%

+12.68%

Trade Builder required

These protection strategies assume a 100-share investment and are estimated based on current market data, assumed dividends, and holding through the protection period. Actual results may vary due to execution prices, liquidity, market movement, fees, taxes, and early exit.

Parity
Priced by the Options Market

How much does it cost to protect your investments?

Search 4,000+ stocks and ETFs to compare protection costs, upside limits, and estimated income, side by side.

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Indicative 12-Month Collar Pricing

Max Loss
Max Gain
AAPL-8.7%
+17.8%
SPY-9.5%
+11.9%
NVDA-7.2%
+20.2%

Markets closed · Outcomes may appear less favorable