#FuzzyLEAPs
Existing LEAP:
Dec 20th 2030 7700 Put
Cost 927
Daily:
Rolled: Jan 21st 2026 6890 Put
To: Jan 22nd 2026 6885 Put
@ 3.50 Credit
LEAPs Covered: 50.00%
SPX @ Time of Roll: 6851
Total Credit Per LEAP: 19.85
Credit as % of LEAP Cost: 2.14%
Days in Trade: 7
Annualized ROC: 76.48%
I saw Jeff’s Downside Warning and decided to take a little less premium and roll down one strike. Still only half the LEAPs covered.