Options strategy diagram showing a LEAPS position as the foundation for generating monthly income
Options Education8 min

How to Use LEAPs in an Options Income Strategy

The primary income-focused use of LEAPS is as the foundation of a Poor Man's Covered Call (PMCC). You buy one deep-in-the-money LEAPS call and then sell…

Bernardo Rocha
Calendar showing a long-dated options expiration date far in the future representing a LEAPS contract
Options Education7 min

What Is a LEAPS Options Contract?

A LEAPS (Long-term Equity AnticiPation Securities) is an options contract with an expiration date of one year or more. Everything about a LEAPS works the same…

Bernardo Rocha
Options chain showing a LEAPS long call and a short-term covered call setup
Options Education8 min

What Is a Poor Man's Covered Call?

A poor man's covered call (PMCC) is a strategy where you buy a long-term call option (a LEAPS) instead of buying 100 shares of stock, then sell a shorter-term…

Bernardo Rocha
Options greeks chart highlighting rho alongside delta theta vega gamma
Options Education8 min

What Is Rho in Options and When Does It Matter?

Rho is the options Greek that measures how much an option's price changes when the risk-free interest rate changes by 1%. It is typically the least important…

Bernardo Rocha