We are opening LEAPS against Apple (AAPL) so we can start selling covered calls against the position while still being exposed to the stock’s growth. Instead of owning 100 shares of AAPL which would cost us $27,380 we could buy 1 LEAPS contract for $9,920 instead, gain the same (or similar) exposure to the stock’s growth and also start selling covered calls.
Here is our today’s trade:
Buy to Open 1 AAPL January 15, 2027 (382 DTE) 185 call with delta 0.87 for 99.20 ($9,920)
Now we can start selling covered calls:
12/29/2025 STO 1 AAPL Jan 16, 2026 292.5 call for 0.28 credit (ROLLED)
We will let the covered call expire unless we need to adjust it.
01/08/2028 STO 1 AAPL Feb 20, 2026 285 call for 1.33 credit (OPEN)
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