?Click here to access this episode.

For those of you with the book, we?re on page 32. Or, you can find it on OptionsPlaybook.com in the ?Rookies? tab? and look for ?Buying LEAPS Calls as a Stock Substitute.?

Today Brian discusses:

  • A review of buying calls, in-, at-, and out-of-the-money
  • How LEAPS can be an alternative to buying a short-term, out-of-the-money call
  • What are LEAPS?
  • What impact does delta have on long-term options?
  • Using a real IBM option as an example
  • Caveats, including dividends and bid/ask spreads