SPDR S&P 500 ETF (SPY) Buy, Sell or Hold

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SPDR S&P 500 ETF (SPY)

744.09

+0.80 (0.11%)

as of Jul 20, 2026, 5:13:49 pm Market Open.

108 watching

Investor Insights

Jul 20, 2026, 12:00 am

This summary was created by AI, based on 2 opinions in the last 12 months.

The SPDR S&P 500 ETF (SPY-N) has garnered mixed reviews from experts. On one hand, it is recognized for its popularity and low costs, with some experts advocating for it as a solid hold due to its potential for growth over the next 5 to 10 years. However, there is a significant concern regarding its heavy concentration in the technology sector, which constitutes a considerable portion of the index, leading to heightened risk. With 8 or 9 out of the top 10 holdings being tech companies, the reliance on this sector raises questions about market stability. While earnings growth in technology remains robust, analysts are wary of how much further price-to-earnings ratios can rise before becoming unsustainable. This dichotomy leaves investors weighing the potential rewards against considerable risks.

Consensus

Hold

Valuation

Overvalued

Similar

IVV

COMMENT

Why would both go on on the same day? The VIX (VXX-N) tracks the expectation of volatility over the next month. Volatility changes. If the market (SPY-N) is going up then typically volatility comes down. If the catalyst for a rally is thought to be short lived, then volatility can go up as well.

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BUY

Defensive ETF? Not a bad idea to dip into the broader index at this point after the selloff. SPY is the most well-known name. Now right below the 200-day moving average.

PAST TOP PICK

(A Top Pick Dec 17/18, Up 43%) He sold SPY June $250 put. At the time, it was trading around 245. He hedged his bets on the downside by buying a June 230 put. This means if the S&P500 collapsed below 230, it would be put to somebody else. He took in $6/share.

COMMENT

Did 3 puts on May 10 at 284 and paid $9.61 on May 13. It was at 280 or a loss of $4/share, but the put went up to $11.13. Why did the put not protect the SPY position? Are the puts a good way to protect long positions? Problem is, options have a delta--they don't move dollar-for-dollar with the underlying security . The delta would be around $50 for him, so the option likely moved 50 cents up every dollar that the SPY moved down. So that's not 100% protection. He'd need 6 puts instead of 3.

COMMENT

He wants to see an event such as a report to buy into the market at a good time. He's not doing any puts, but would wait for news and then buy in.

COMMENT

Anymore upside? A fantastic ETF. Nobody knows when the top is, but we've enjoyed a great rebound since December 2018.

BUY

Do you recommend ZWS as a hedged covered call or prefer something else, and would you hold it at the only US equity in a portfolio? To answer the latter, no. And he prefers SPY-N as your core holding; it pays you yield and cash flow, becuase it holds high-dividend stocks and sells covered calls against them. Also, US dividends are taxed in Canada and don't benefit from the dividend tax credit.

TOP PICK

March300 calls It's a short-term trade. The $300 calls will cost around $18. If you believe markets will continue to rise, this is how you play it with limited risk. The VIX is low. If the S&P goes to 3,200, you'll get a double on this option.

COMMENT

An ETF that's been around forever, trading in US dollars. He doesn't know if this will go up or down, but his question is: What is your time horizon? This will do well in the long run.

BUY

Would you prefer it over DIA? Definitely prefers SPY because it is 500 stocks as opposed to 30. More diversification. It is the place to be.

BUY

XIC-T vs. SPY-N vs. VT-N. After a sharp decline after a rally you are likely to retest lows. The thrust off the bottom was so significant. 10 of the last 12 corrections never went back to retest the lows. Positioning is so defensive that people are not likely to get the retesting of the lows they are waiting for. The commodity complex could see strength. All three should do well.

BUY

$2,000 for his son to invest in? He'd buy a really simple ETF, the XIU, which is basically buying Canada's 60-largest companies. You're buying Canada, including 30% in energy and metals, which is a risk. Or you could try SPY to cover the U.S. market. You could split these two 50/50.

TOP PICK

An extremely conservative way to play the market now. Sell a June 2019 $250 put with a $4 buy, with a return of $6 (if the S&P stays where it is today) and a maximum risk of a $14 loss (if the market crashes). He thinks the overall market in 2019 will go sideways.

DON'T BUY

The S&P 500. US Equities. They tend to do well when we have benign inflation, good global growth and abundant liquidity. But now we have some liquidity coming out. People are selling actively managed stocks to buy the S&P 500 themselves. This means that when they want to get out, all these investors will be selling the same stocks. ETFs are more popular than in 2007/8.

COMMENT

The largest ETF in the world. A fine core holding, though he advises moving away from U.S. markets. He himself is maximally underweight the U.S.

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SPDR S&P 500 ETF (SPY)