How to Buy LEAPS - Using Robinhood Legend

[@InTheMoneyAdam]

I did bad maths at 7:52, the bid ask is actually lower around 1.5% of the value of the option. It also shows the mark price so I didn't need to do the math to find the mid. They are synonymous.

[@boybitschua]

glad to see you are getting better!

[@InTheMoneyAdam]

Thank you!

[@elbarca223]

Am I dumb? I am glad that you know it. 🤣🤣🤣

[@olegnechai966]

@@elbarca223 At least he’s that smart not to go to your level and respond to you. Adam is strong!!! We love you man

[@boroqcat]

Can’t describe how personally invested I am in seeing you win Brodie. I get legit geeked just to see you post. You can legit get a like posting finger football. You pushing through to deliver free value instead.

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.❤

[@peterstone7901]

Good to see you brother! Hope you're doing well!

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@samuelsiegal2494]

It seems you’re doing much better Adam. I’m happy to see it. Insightful content too about bargaining for a mid and your delta sweet spot.

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@juanky5555]

Thank you Adam! Awesome video, you covered a lot of nuances which aren't generally covered. Loved it, glad to see you better man

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.

[@ssy333kk5]

I am so glad to see you Adam. Recently I am interested in leap and here you are. Thank you.

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.❤

[@scrowfunk8109]

You seem to be doing a lot better compared to a few months ago. I’m incredibly happy for you and hope you are doing well

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@josephukedaddy0548]

Dude!!!! I will watch this tomorrow morning. I just wanted to give you a like right away!!!

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@taliluvu2]

I’m happy to see you. Please give yourself more grace in the calculations with all you’ve been through😅Something about the way you trade resonate with me but I’m still a newbie and trying my best to understand the approach. Thank you for all that you do.

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.

[@beansbeans4079]

Learning so much through your videos. Definitely hopping in the Patreon once I’ve saved a chunk to mess with

[@davidb9039]

100% agreed about swing trading. Wheel just makes sense, get assign then just sell calls at assigned strike. Simple.

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@jeffl8549]

Giving you likes on your videos because of your fight against incredible obstacles. Let's go, Adam!

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@fotografkennethlund]

I'm so happy tp see a new video and hopefully this comes across as well as intended: you look and SOUND much better than in a long time!!!! 🙏

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@UraniumFever-ud8il]

I love LEAPs in a special and unique way!

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@0DTEVIXCALLS]

Oooh SHIT It's that BOYEEE Thank you master of Options for this morsel of knowledge

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@jsmoothFL]

Did I miss what is about Robinhood legend in the vid ? Glad your doing stuff again man

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@joannapatterson4625]

Thanks for sharing. Love your content!

[@InTheMoneyAdam]

Thanks!

[@Saboori]

It’s so good to see you back my man! I have 100 AMD shares that I bought at around 170. I’ll probably sell part of the shares and buy a leap with the money if it keeps going down tomorrow. Question: isn’t a delta of 75-90 not too high? Wish you much strength with your fight and hope you’ll be soon healthy again!

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@jaden85643]

Welcome back my boy

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.❤

[@aj_theeartist967]

Welcome back bro

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.

[@businessphone7905]

I was just thinking about you today. I hope you and your brother are well.

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@KyleBaran90]

Bought two 75 delta WMT calls with 180 dte a month ago, took $280 profit on one of them. Did the same with silver the other day, but I feel like it's gonna eat some near term drawdown. I do like that all risks are defined upfront with options

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.❤

[@arh824]

Hope you are doing fine… Are you planning to make a video about selling deep ITM cash secured put and selling deep ITM cover calls? It must be interesting because of the way you teach things. Thanks

[@kkwin1595]

That will be great! i would like to watch and learn it too Adam!

[@leonguerra1785]

Hope you’re doing well and that your recovery is improving! May I ask why buy LEAPS right now when in prior videos you are addressing a high possibility of a recession?

[@stanmarge6326]

The best dude of the game is HERE

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.

[@truckinforever985]

Poor man’s covered call Adam Great videos Stay up

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.

[@Praneeth_-]

You are a god send! I recently started trading seriously and this definitely helps. I hecking love LEAPS.

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@kkwin1595]

Thank you so much for a great Videos Adam!

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@PatrickHoodDaniel]

Excellent information!! I will have to join your Patreon. You are the only one that looked at IV for a LEAP and I think that is so important as you want the lowest IV when buying a LEAP (not selling). One question, have you been able to do LEAPs in the Roth IRA then CC on those LEAPs? I can do the LEAPs, but then the CC is not allowed for some reason in my Roth IRA Robinhood account.

[@InTheMoneyAdam]

Haven’t tried, don’t like capping my upside potential

[@PatrickHoodDaniel]

@@InTheMoneyAdam Good point. I am usually way OTM on my CC. I've switched to standard wheel strategy in my Roth IRA after noticing that I can't do the PMCC.

[@InTheMoneyAdam]

Yeah, I’ve noticed that my typical 0.3 delta cc’s (when I do sell them) usually end up ITM rather quickly.

[@lslurpeek]

Don't cc them. Just buy the leap and don't over think it

[@PatrickHoodDaniel]

@lslurpeek been doing PMCCs for a very long time. Can't stop. Like it too much.

[@doctortoddanderson]

Thanks, Adam! How are you liking the legends platform?

[@InTheMoneyAdam]

I like it! Needs work. I rattle off some things it needs at the end of this video.

[@doctortoddanderson]

@@InTheMoneyAdamAnd there’s no roll shortcut like there is in the regular version…

[@redeyes5568]

Hi Adam, good to see you making videos again. But I am confused as to why you did what you did. You sold ~$6K of AMD to then use those $ to fund the purchase of a LEAPS call option. So you are short x shares of AMD but long 100 shares (at a certain delta - I forgot what the value was) via the LEAPS call option. What is your strategy to handle this combo position?

[@InTheMoneyAdam]

I’m not short. I sold shares and bought a leveraged position with the proceeds. I just swapped shares for a LEAP, leveraging the dip.

[@GarciaFinancialCapital]

I’m confused too. If you’re long an 80 ish delta call & short stock at the current price. Wouldn’t you be net short your position?

[@paulb88916]

Around 6:00 when you thought you were looking at delta you were actually looking at Vega 😱

[@InTheMoneyAdam]

Yeah did a brief whoopsies

[@chrisjiang9074]

Will you do an update whether you think a recession will happen or not?

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.

[@PatrickHoodDaniel]

I just noticed that the limit textbox has the "mark" right there conveniently.

[@InTheMoneyAdam]

Noticed that, too. Put it in the pinned comment. Nice!

[@PatrickHoodDaniel]

@@InTheMoneyAdam I'm loving the new Robinhood Legend. It has so many "hidden" features!! Haha

[@redrobin1193]

hello again! :)

[@snarfsnarf247]

Good to see you back out here brother . Hope all is well on that end 🙏🏽🫡

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.

[@bentleyboy72]

When it gets time to dump these options, for exercising, does RH require that you have the capital needed to purchase the 100 shares or do they "lend" you the money until you can resell the shares to make up the difference? I think I've seen peoples' accounts show a negative number before? That's my only hold up with getting into LEAPS being how best to exit them before they go to 0.

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.

[@kevinxiang1911]

Do you plan on closing your leaps early if the signs for recession in the next year are imminent? Kinda like playing it by ear.

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.❤

[@BodaciousBeaver]

Adam would you ever buy a LEAP on an index etf like SPY or QQQ?

[@InTheMoneyAdam]

Already own one on QQQ

[@BodaciousBeaver]

Hahaha I’m an idiot I just saw that - it’s very small on mobile

[@DevinBerry-v9c]

With the leaps you just bought you can sell calls against it? (PMCC)

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.❤

[@Jdhannel]

Another great video, thank you. Question: Actually, looking for confirmation that it is (or is not you) that I am conversing with on Discord regarding mirror trading. If it is you, excellent, if it's not then you'll be saving me from a scam.

[@InTheMoneyAdam]

Not me

[@Jdhannel]

@@InTheMoneyAdam good to know. Thank you.

[@DeLaCruz878]

Can I get 3x leverage buying ITM LEAPS?

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.

[@briancnc]

Was Legends only rolled out to select people so far?

[@InTheMoneyAdam]

I suppose so

[@johnstewart5221]

Do you still only hold 3 stocks? i remember you made a video years ago and you said you don’t believe in diversification and only owned microsoft amd and chegg or something like that

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.

[@william18miller]

how would exercising a LEAP option be tax efficient? wouldn't that force you into short term capital gains? but if you sold the LEAP option after a year you'd have long term capital gains

[@InTheMoneyAdam]

Did I say tax efficient or cost efficient? If you have like no liquidity at all, you don’t have much of a choice. But this is a rare outcome.

[@william18miller]

@ 18:32 you said "to avoid taxes on your gains". It was very confusing because it's not avoiding taxes at all and in fact is increasing them if you've held the LEAP for over a year... but yes it is more cost efficient (if you don't consider taxes) if there is no liquidity

[@FatherDragonKal]

Haven’t watched the video, but I hope it includes how to SELL LEAPs please 🙏

[@InTheMoneyAdam]

What part of selling LEAPS are you confused on?

[@FatherDragonKal]

@@InTheMoneyAdamWhen do you sell them? Who do you sell them to? When do you “let them die” and how do you do that? I’m so confused by it I’m sure I have questions I don’t even know what to ask? I followed your video to buy LEAPs like two years ago and ended up with hundreds of shares of different stock and $150k leveraged because the time ran out and I had no idea what happened.

[@InTheMoneyAdam]

@@FatherDragonKal I tend to not sell them. I buy them on companies I'd hold long-term and roll them up and out when they're profitable and becoming illiquid/approaching expiration, or I sell and buy a new LEAP using the proceeds and extra cash to buy the dip. You sell them to either other market participants or market makers. If you can't afford to buy the dip, you have to just let the LEAP ride because they are so leveraged that you would quickly get stopped out if you had one. Not sure what you mean by 150k leveraged and time ran out. Did you let them expire? Anyway, that's all I'm answering here to keep it fair to my Patreon supporters who pay to ask questions.

[@jordanfong4255]

@@FatherDragonKal why would you sell leaps, theta doesnt ramp up until 60DTE, there is no point to sell LEAPS

[@javabudd]

Good stuff

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@Wonka_Tonka]

are you not trading on tasty trade any more?

[@InTheMoneyAdam]

Haven’t been in years

[@joshcenac8245]

With $7,000 limit per year on Roth IRA, how did you get to $280k at this age? Unless you have $200k worth of profit, in that case I need to join the group.

[@joseflassan]

Yes. I’ve seen this on prior videos and my eyes almost popped out of my head. I was slow to IRA and index funds but 4x-ing my IRA at 39 years old is just bonkers.

[@InTheMoneyAdam]

Just consistent deposits and good returns. I’ve made most of my Roth money in the last few years.

[@KyleBaran90]

Last year was insane, 40-60% returns across the board (methinks from inflation and USD being devalued). Doubt next year will look that good, unless something is really wrong. But that's why you DCA and ride it for the long haul

[@AutoTechAndy]

If you are not subscribed to in the money , are you really learning?

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.

[@carsonhunt4642]

Leaps when market is at ath, questionable timing lol. Hopefully turns soon. Last time I got fomo like this I bought in thinking the current admin would keep inflating for us… month later crash. Have that same feeling… we’ll see

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.

[@andyperez1434]

Thank u

[@InTheMoney-Channel]

Thanks for watching! My TEL is broken down into 3 sections. 十1(213), then 296, finally 6604? I’m available for a 1-1 convo. I’ll be expecting your tex.❤

[@leonv4648]

leaps of faith

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.

[@samuelfox8126]

It doesn't seem right to sell shares of a sunken stock to pay for your leap.

[@InTheMoneyAdam]

It’s essentially buying the dip

[@abarber32002]

Aye! Let's

[@Stan_sprinkle]

❤

[@igotyoubeat]

What are your thoughts on these high dividend ETF’s like BITO and others

[@InTheMoney-Channel]

Thanks for watching! My helpline are as follows. Firstly=> plus 1213, Secondly=>296, Lastly=>6604. I need to clarify a few things and share some important details with you. I'll be expecting your tex.