$SPX $SPY 2026 JPM Q3 Collar:Q2 2026 may end with

$SPX $SPY

2026 JPM Q3 Collar:

Q2 2026 may end with a squeeze…

But Q3 has a fresh upside map.

As we close out the quarter, don’t be surprised if the market sees some rebalancing or profit-taking.

That’s normal quarter-end mechanics.

But the bigger setup is what comes next.

The new Q3 JPM collar appears to reset with:

Short Call: 7,890 SPX

Long Put: 7,090 SPX

Short Put: 5,990 SPX

Expiry: Sept. 30, 2026

That makes $SPX 7,890, or roughly $SPY 789, the new upside reference point into the end of Q3.

Why does 7,890 matter?

Because JPM’s collar typically sells an upside call to help finance downside protection.

With $SPX rolling near the $7,499 area, a call cap near $7,890 lines up with about +5.2% upside from the roll zone.

From July 1 to Sept. 30, the market has roughly 64 trading days to work toward that level.

That window includes:

Inflation checks:

Jul 14 CPI

Jul 15 PPI

Aug 12 CPI

Aug 13 PPI

Sep 10 PPI

Sep 11 CPI

Fed meetings:

Jul 28–29 FOMC

Sep 15–16 FOMC

Plus, the full July/August earnings gain window.

So, the roadmap is potentially in place.

Q2 end: rebalancing, squeeze

Q3 start: fresh collar reset, fresh earnings runway, fresh upside target.

Destination zone: $SPX $7,890 / $SPY $789 into late September.

Not a guarantee.

Not a straight line.

But this gives us one of the cleanest institutional levels to track for Q3.

$SPX $7,890 $SPY $789 is now on the board.

👇👇👇