Stock price when the opinion was issued
VSP is a hedged version for the S&P index, for those wanting exposure to the S&P but using Canadian dollars. XSP is fairly similar. MER costs are quite low for both. He prefers the market-weighted over the equal-weighted right now. Large and mega-caps will continue to perform well.
His mid-term target for the S&P 500 is 5500, then maybe a pullback in September-October, and then go on to hit 6000 in the first quarter of 2025. Good opportunities in it, even though the market's performed well.
Investor's talking about a way to use some leverage to get exposure to the market. That's a sophisticated strategy, and he wouldn't recommend it for most people. If the S&P valuation is pretty fully valued, then he doesn't love this strategy here. After a correction, sure.
What he does like a lot right now, with capital preservation in mind, is BMO's series of buffer ETFs. Upside potential, but there the covered call pays for some put protection. For the short term, he's more in the camp of "down" than "up". Long term, you have to love the S&P 500; but you just can't love it at 22x forward PE.