LEAPS

LEAPS are long-term call options used for stock replacement and capital efficiency. Learn deep ITM selection, delta 0.70–0.85, 12–24 months DTE, IV Rank filters, PMCC overlays, roll cadence, and risk-first sizing so you capture upside with defined downside.

Expected Move Options Research, Mechanics and Commentary Weekly Update Mental Capital Wealth Without Shares Reports The Income Foundation Trade Alerts The Income Foundation Reports The Wheel Strategy The Option Premium Weekly Newsletter Greeks Total Access - The Option Premium Reports Strategy Reports Featured Reports Total Access - The Option Premium Trade Alerts Jade Lizard Covered Strangle Short Strangle Bull Put Spread Bear Call Spread Cash-Secured Puts The Implied Truth Trade Alerts Wealth Without Shares Trade Alerts The Implied Perspective Reports Implied Volatility Metrics Poor Man's Covered Call Strategy Subscriber Pages Educational Corner The Implied Perspective Weekly Update Market Research Earnings Trading Strategy Covered Call Options Trading 101: First Steps to Trading The Implied Perspective Trade Alerts The Earnings Playbook Risk Management LEAPS Options Trading Psychology Collar Strategy Law of Large Numbers The Income Foundation Weekly Update Building an Options Portfolio Credit Spread Probabilities Iron Condor Wealth Without Shares Weekly Update

The 15 Best LEAPS Articles of the Year: Stock Replacement + PMCC Income Playbook

Explore the 15 best LEAPS articles of the year, stock replacement, strike selection, PMCC income, rolling rules, collars, and real examples. Bookmark this playbook.

Andrew Crowder

Educational Corner: Income Math with LEAPS - Basis Reduction, Yield on Capital, and Realistic Expectations

Learn the real income math behind LEAPS (PMCC) strategies: basis reduction tracking, yield on capital calculations, and realistic expectations with practical examples and risk rules.

Apple LEAPS Strategy Review: 92% Return Using Poor Man's Covered

How a Poor Man's Covered Call on Apple delivered 92% returns in six months using LEAPS. Real trade breakdown, income results, and capital efficiency analysis.

📚 Educational Corner: How to Choose LEAPS Contracts: Strike Selection, Expiration, and Volatility

Master LEAPS selection with systematic framework: 0.75 to 0.85 delta strikes, 18 to 30 month expiration, extrinsic value analysis. Probability-based approach.

📚 Educational Corner: LEAPS and the Wheel: Blending Long-Term Calls with Short-Term Premium

Combine LEAPS exposure with Wheel-style puts and covered calls to stack long-term growth with short-term income, step by step.

LEAPS for Part-Time Traders: A Low-Maintenance Framework

A practical LEAPS framework for traders with limited screen timestructured entries, simple review cadence, and realistic expectations.

📚 Educational Corner: The PMCC Collar Framework - Building Income with a Floor

Learn how to add downside protection to your PMCC strategy without killing income. Practical frameworks for using collars, timing hedges, and managing costs.

When to Roll the LEAPS Itself

Learn when to roll your LEAPS options to maintain leverage and delta efficiency. Discover the mechanical signals, delta drift, extrinsic collapse, and elasticity loss, that indicate it's time to reset your long call position.

📚 Educational Corner: PMCC - Expected Move for Picking Short Calls

Use expected move to choose short-call strikes that pay and protect.

High IV vs. Low IV: Which Stocks Work Best for the Wheel?

High IV stocks offer bigger premiums but greater risk, while low IV provides stability and faster compounding. Learn how to balance both for optimal Wheel strategy results and sustainable income generation.

PMCC 101: Income Overlay with LEAPS

Build a PMCC: long LEAPS + short calls for steady income and basis reduction.

Deep-ITM LEAPS: The 0.75 to 0.85 Delta Playbook

Deep-ITM LEAPS with 0.75 to 0.85 delta deliver stock-like returns with 65 to 85% less capital. Learn why this delta range wins for capital-efficient equity exposure.