You were expecting the market to correct for the last couple of months and see that it is happening over the last few weeks. You are expecting to receive $20,000 from an external source that you are planning to buy the SPDR ETF next month but would not want to miss out on the current price levels (in case the S&P 500 levels go up). Explain how you will lock in the current levels using options. Use todays price on the SPY and give an estimate of the cost to do so?