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What do you call the options trading strategy in which you buy in-the-money LEAPS and keep selling short-term out-of-the-money calls?

Good question. It’s called a long call diagonal debit spread. I also believe that TastyTrade coined the term ‘poor man’s covered call’. The second name really gets at the heart of what this strategy tries to achieve. By using an in the money LEAPS call you get a very high Delta which simulates the stock with a reduced capital […]

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