SPXL Leap Diagonal

BTO SPXL (3 x SPY ETF) Apr 2021 50 Call ($17.30) / Jan 2023 40 Call ($29.40) Diagonal @ $12.10 (selling the shorter term, buying the longer term) – a $10 spread with good rolling opportunities.

I know most of the trade ideas here are for short to mid term time frames – I thought I’d share a longer term bullish trade that should be relatively easy to manage. As SPY is going to the moon I thought I’d go along for the ride.

I’m cognizant of the fact the theta decay could be huge, but over the longer term expecting it to roughly track 3 x the performance of the S&P 500.