#SyntheticShortStock – Fidelity is letting me back in the game. Starting with a 2027 and may add a 2028. Had to go 400 wide on the call side since no 5500s available. Costs a little more out of pocket but max loss is still similar. 310 per week to cover max loss.

SPX Synthetic Short with protective call Dec 17 2027 5000/5000/5400 @ 225.0 debit

And:

Sold SPX Feb 08 2024 4975.0 Put @ 7.50