A lower than expected CPI number sent stock soaring last week.  The SPDR S&P 500 ETF (SPY) jumped 5.5% on the day of the release. Moreover, what looks like a massive covered call trade on SPY also occurred on the day, which may imply the index could climb as high as $420 in the next month.  The 50,000 block of calls (tied to stock) had a notional value of over $12 million.