Stock buying using only LEAP options- the best beneficial way to invest | Dan Gorbatch | Skillshare

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Stock buying using only LEAP options- the best beneficial way to invest

teacher avatar Dan Gorbatch, financial expert

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Taught by industry leaders & working professionals
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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

4 Lessons (39m)
    • 1. Course Introduction: leap course

      4:02
    • 2. Atm otm options inter-extrinsic option value

      4:09
    • 3. What are Leap Option

      15:36
    • 4. Long leap buying deep Itm

      15:10
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About This Class

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Come and learn the best way to buy a long exposure to a stock without buying the Stock itself! 
Without spending a lot of money, just by buying options. 
This long buying strategy of options, will reduce your total amount of dollar investments and will give you better investment returns. Furthermore it can reduce your total losing.
I will explain every thing in the course and give -4 example scenarios.  
Its a very simple but smart strategy taking advantage of option pricing. 
Any one can us it. You don't need any special margin account to do it. 
The only thing you need is, a strong believe in the stock and that it will rise.
You do need to understand how options are priced and what effects them. (I gave 2 videos explanation before getting into the strategy itself)   

Truly the most beneficial way to be BULLISH on a Stock

Meet Your Teacher

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Dan Gorbatch

financial expert

Teacher

Hello, I'm Dan

I'm an expert trader in stock exchange markets for over 20 years.
My expertise is in the option markets. I have traded in several markets around the world and gained a lot of knowledge  and experience. I have seen it all in the markets.
I worked for international trading companies and hedge funds and now I'm managing my own clients.

I have studied Economics specializing in finance and Data Science


I have written a book for professional traders on the subject of how to trade the right way in Variable standard deviations

I am also working (part time) as a partner in a algorithm company who develops and analyzes automatic trading at the derivative markets. Quant Trading and Hft trading.

I'm here to help you know and unde... See full profile

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Transcripts

1. Course Introduction: leap course: Hello, everybody, and welcome to the class stock buying using only LEAP options. 00:00:04.905 --> 00:00:06.090 Did you know that you can buy nearly buy a stock, but using only LEAP options? 00:00:06.090 --> 00:00:09.390 But using only leap options really it's possible and it's pretty easy and pretty smart. So first thing, let me introduce myself. My name is Dan Gorbatch. I'm an expert trader and his stock exchange markets for over 20 years now. My expertise is in the option markets. I've traded in several markets around the world and gained a lot of knowledge and lot of experience. And trust me, I've seen it all in the markets. And I know a lot of things about the option world. I've worked for international trading companies and hedge funds and now I'm managing my own clients. I've studied economics specializing in finance and in data science. I've also written a book for professional traders on the subject of how to trade the right way in variable standard deviations. I'm also working part-time as a partner in an algorithm company called sweet option, who develops an analysis, automatic trading's at the derivatives markets, trading and also high-frequency trading. Basically, I'm here to help you to know and understand how to trade, right, and avoid losing money in this field. Because this field in option world can be very cruel. And you can loss a lot of money, but on the other hand, you can do a lot of beautiful things using options, reducing your risk. And basically, I'm here also to expand your knowledge in finance and this is very important for me. I definitely do not promise you any profit or income or anything like that. I am here to give you knowledge. And I'll also give you everything I know so you won't make mistakes and lose money. And also I promise you that if you'll be patient and study well, you will have a better chances to succeed. Why should you study this option course? Well, first of all, you'll see how you can reduce your risks. You're going to have a higher potential returns, its going to be very coastal fishing. See, options have more strategic alternatives. And options are, of course, the most dangerous place in the market, But it can also, infarct, be the safest place for you to trade, trust me, So stock buying using only leap options, you're going to find a great, great strategy for buying a long exposure to a stock. That means that we're not going to buy a stock, we are going to buy long leaps options. I'm not saying which one you'll have to enter in and see. You're going to see how it can be so much coasts-efficiency for you. It's going to be 50 to 75% more cheaper. Doing this strategy. Also, you're going to learn how to take advantage of option pricing Now it means that there is some kind of a trick. And we're going to take advantage of option pricing. And that's good. That could be very good and very smart thing to do. Also, you're going to see in this strategy how you can reduce your potential loss. And by that I mean that you can buy those options very cheaply. You're going to see how you can benefit more quickly with options 00:03:25.985 --> 00:03:28.355 So this is not magic, this is simple mathematics here, and it's going to be a very useful but simple strategy. For sure you're going to need less money than buying the whole underlying asset and with 100 shares. And basically I'm going to show you here how it's so efficient to buy dose LEAP options, then buying stocks. All right, so if you're interested, please come join me in my class. I hope to see you guys. Best of luck to you all. 2. Atm otm options inter-extrinsic option value: Hello everybody and welcome to my class. Today we're going to talk about the differences between ITM HAM and OTM. What are these names and how are they related to the option world? Well, let's see. First of all, we have here an example of ATM OTM all, first of all, ITM is in the money. That's me option in the money or deep into money depends on how far it is dipping the money. So we see here a screenshot of Apple stock, which is currently traded between 145 to 150. And as you can see here, this is, this side is the call side, and this side is the book side. Then we're looking at this option chain. And we can see that here exactly in the middle, we have what we call at the money or surrounding the money, which is whatever is closer to 145150 is consider at the money, both sides calls and puts the same. But if we look further down on the lower strikes of the acid, and you can see that every number that is below 145 considered in the money and further down we go. They are considered deeper and deeper into money. And so on this side, those calls war. Less than a 145 are considered dip into money. On the other hand, those strikes that are above 150 are considered out of the money. Okay, so you can see these numbers, 160, want to 55 and above, they are considered out of the money options. On the other hand, if you're looking on the sides, then you can see that L dose puts that have as Treg that below 145 are considered out of the money options. And those who have a greater strike price are considered in the money. And further up we go, are considered deeper, deeper in the money. Okay, So these are the differences, but I have another thing to keep in mind that we always have option price. And price is always made of two elements there that are very important to key elements, the intrinsic value and the standard value. Okay? So I'm here, I'm here. I brought you an example of the option price. I'd say we're assuming that myself stock price is currently, let's say, traded at a $100 and we're looking at a 70, which has been traded at thirty-five dollars. So as you can see here, this is entire option. Price is divided to 30 and five. So 30, that's the intrinsic value of the option. That means that it's currently, if the stock has been traded at 100, this option cannot be worse less than $30. On the other hand, because it's been traded extra, that we call eccentric, eccentric value, we're paying extra $5 for. Usually, commonly it's been paid for the sellers risks, time decay and implied volatility consideration that affect the option price. So the most important thing for us to understand is that options are divided into two intrinsic and eccentric value. And they always tend to have a little bit more extra than they actually worth at expired. So this was our short class about at the money out of money. In the money. And also we saw again how option price are made of. Hope to see you soon again. 3. What are Leap Option : Hello everybody and welcome to our class. Today we're going to talk about leap options. What are LEAP options? 00:00:19.964 --> 00:00:21.390 What are they good for, how they can benefit us? 00:00:21.390 --> 00:00:23.130 00:00:23.130 --> 00:00:27.375 And what else do we need to know about leave options? So let's start. Well, first of all, LEAPS are long term equity anticipation securities. 00:00:30.450 --> 00:00:34.360 By definition, LEAPS options are publicly traded option contract with expiration dates that are longer 00:00:38.420 --> 00:00:41.885 with expiration days that are longer than one year. Wow, that's a long period of time for options. I mean, we're used to options that have one, two, one week, two weeks, 30 days. 00:00:49.070 --> 00:00:50.900 but these are longer than one year. AT some large indexes it can go up to -900 days. 00:00:57.020 --> 00:00:59.600 Leaves are available in stocks and indexes that have an average daily trading volume of at least 1000 contracts 00:01:03.040 --> 00:01:05.540 They were first introduced in and they were derivative instruments solely for stocks, however 00:01:09.365 --> 00:01:17.165 more recently, equivalent instruments for indexes have available Leaps. Generally speaking, are a great investment tools with for those who want a long term, exposure to one direction, that means that you're believing in that one direction for a stock. it can go can go Long or Short You can have it for a very long period of time. So let's see what are the pros and the cones for those options. Ball, Let's start with the pros. As we said, they have a longer time exposure then regular short-time options. The best thing in my opinion is that the THETA effect is negligible really and its very small at a first-time period. That means If we're buying, 00:01:54.365 --> 00:01:59.900 let's say, an option and it has two years till expiry. 00:01:59.900 --> 00:02:02.465 Then at the first year 00:02:02.465 --> 00:02:06.290 we're going to lose very short amount of money to time effects. And we're going to see that. Another great thing that those Leaps have, that they have a greater DELTA when we're buying them, the market goes one way. 00:02:14.390 --> 00:02:18.605 have greater Delta for buying them if the market goes one way. We're going to have a greater Delta. And then the shorter ones. The fourth greatest thing about leaps is that they are very cheaper, way cheaper, and they're great way to expose yourself to an asset than buying the whole underline And we're going to see that it's also soon. That means that they can be cheaper. We're going to try to expose ourselves to one direction, to the market. Leap call option initially have a greater leverage, of course, and we can also have a longer time period with those leaps. Now to cones, there are very VEGA, sensitive, and that means they're, they're sensitive to differences variations in standard deviation. Another thing that we have to keep in mind, when we're trying to trade leaps there 00:03:08.930 --> 00:03:13.100 sometimes might be some marketability and liquidity problems. That means that maybe, maybe I'm just saying maybe. Not all the options are tradable at the right price or , you can see the right spread and we can find the right buyer or seller. should take that in mind that these options are not as tradable as the shorter ones. All right Another thing that you have to keep in mind when you're holding a long Call Leap that will not entitled you for a dividend distribution. If Dividend is distributed.. as it goes the same for every options. We are not entitled for dividends. And one more thing that we have to keep in mind that long put leaps usually have a worsen delta than shorter ones then means that if you're going to buy a long Put leap, we're not gonna get anything close to minus 100 Delta. And we're gonna see that right away. Here you can see the time decay over the variation of option due to passage of time. That means that let's have a look here. And you can see that if you're going to buy and this is not even A LEAP its 120 days to exploration. You can see that even though it's shorter time, it's still going to have a shorter THETA time decay when passes by and time. And let's say it goes by from 120 days for expression to 90 days expiration or expected THETA. There's going to be a measure of 10% of the, option value. And also you consider the time effect. And the time decay from 90 to 60 days is slightly going to greater. It's going to be an amount of, let's say, maybe 20% more additional time decay. And even if it goes from 60 to 30 days, and then it's also going to have a greater but still small time decay. And as you can see here, the worst period of time for an option is the last 30 days to 00:05:22.985 --> 00:05:26.690 expiry We can see that slumps. It goes pretty hard. all the way down and every day that goes by, we're going to lose significantly higher and higher percentage of our theoretical option price. So that means that basically as you can see, and if you're going to buy an option for 700 days, of course were only to be afraid of the last 30 days. So this is a pretty good example for you to see how time decay works. And the longer you buy, 00:05:59.740 --> 00:06:01.270 the shorter time decay, it's going to be in the first time period. All right, so let's have an example now and see how it works. We're going to see a real example. We can see here that we are looking at Facebook stock, which is currently traded at 350. I want you to see now, two time series, the first-time. Serie has 11 days to expiry. And you can see that the call 350 here, it been traded around 6.50$ Okay. But remember we only have 11 days to expiry. Its less than two weeks. Then on the other hand, we can see here that there is a also another additional options Serie here which goes almost two years from now for 704 days. And if you're going to look at the 350 strike, then you can see that if you're going to try to buy the call option, we need to pay ten times more. It goes at least by 65$ and not by 6.5$ but on the other hand, remember that we still have almost two years with Facebook as if we are going to buy this long call option. Now, one more thing, keep in mind here we can see the Delta, the Delta 350 on the shortest strike for 11 days is just 0.55. Hence, the 350 for 704 days to expire is going to get a greater delta of 0.6. And it goes on and on. You can see here is the 355 strike. You're going to get a delta of 0.4 for or else we're going to get here a Delta of almost 0, 59. Which again, I remind you Delta means that every $1 movement of the underline 00:08:05.690 --> 00:08:09.200 or the stock will give you a greater theoretical or reduce your theoretical valuation of your option. So as you can see clearly, the Delta on the longer-term options is greater than the shorter ones. and it goes significantly even when we're trying to buy out of the money options, 00:08:28.910 --> 00:08:32.375 Call 360 has 0.29 Dela less then 0.3 while here, it's 0.57 00:08:32.375 --> 00:08:36.425 while here it's 0.57. Okay, so let's assume now we have bought the long 350 call when we paid it. Let's say $69, which means we paid $6,900 for 100 options. And you can see here the strike, we're here at 350 exactly. Then we have your two lines. The light blue line indicates us what's going to happen to us at the expiry. That means that what's going to happen two years from now. And the purple or pink line, you can see here it shows us what's going to happen, what is happening to us right now (our current valuation) Right now, we're still not losing the whole $6,900 that were spent on the option because we still have two years left. And still it has two years to live. And as you can see, we have here a positive exposure to the underline. And it means that if the Facebook stock will rise, let's say it's reached 370. And let's say it happened today or in next few days, we'll still going to gain a positive exposure to the underline. And that means that we're going to gain, we're going to make money and we're going to earn almost $1000 once it reaches 370. That means that as long as the stock goes up, we're going to make money, then we're only exposing ourselves with $6,900 We bought these 100 options. Now, on the other hand, if you want to see if you're going to buy the stock, then 00:10:28.150 --> 00:10:31.720 Of course, we're going to get a Delta of 100, but we're going to need to pay 35,000$ to get 100 shares of the stock. That means 35,000$ ! but we're going to get a Delta 100. On the other hand, if you're going to buy the call 350. Leap we're going to get,. first of all, we're going to spend only $6,900. And we're gonna get pretty much the same exposure to the underline rise. On the other hand, we're in and getting that with the delta of 0.6. that means that we're going to get exposed only to 60% 00:11:11.570 --> 00:11:18.395 and not to one by one if you bought the underlying or the stock itself. But keep in mind that was spent $6,900 and not 35,000$ 00:11:26.255 --> 00:11:32.705 Okay, so this is 1/5 of the cost of the stock. And should you believe in this direction then buy the leap option and spend 1/5 of 00:11:38.360 --> 00:11:42.620 the initial cost for going long Facebook. And that's interesting, That's really interesting. Saddest thing is that we are here on a time decay and every day that goes by, we're going to lose some money. So as you can see here, at the 350 strike , the Theta effect, there's not much I mean, we're spending almost $7,000 and going to lose daily 4.63$ every day and today. And the time decay will. Tomorrow's be pretty much the same. And every day that goes by, we still lose 4 more dollars out of almost $7 thousand, which is not much. Remember that time decay will hit us harder and harder as long as we're getting closer to the expiry time, but we still have a very long time to go. Still have almost, almost little bit less than two years from now to expiry and if the stock skyrockets. we're going to benefit from that, from this almost one-by-one, only by 60 percent of the underlying rise at the begging. And still the best thing about it we sent just 1 fifth of the initial cost of the stock. We're still going to benefit from rising up. Okay? So this is long Leap for calls. On the other hand, we can also buy the put option Leap and we can see put 350, leap almost two years from now. And it's going to cost us around 6,360. And the worst part of it is that it doesn't have a negative Delta, a big negative delta, because if we're going to try to short Facebook, -100 for delta, that means that our exposure is now going to be one by one. It's going to be just by 41 percent of the total Facebook shortage, Are you going to make only $41 for $1 lose of Facebook share if actually goes down. Then I'll explore, as you can see, And if it goes down, then of course you can see our exposure is pretty much the same as Facebook goes 00:14:06.445 --> 00:14:08.620 down 00:14:08.620 --> 00:14:11.530 We're going to make money because we're shorting it through buying Put Leap option and we're still going 00:14:11.530 --> 00:14:15.460 to get exposure, even though we're not going to gain one by one. 00:14:15.460 --> 00:14:20.135 than knowing that we're not getting a perfect minus 100 Delta, we're still going to be exposed to the negative side as we wanted and we are going to make money even though we didn't Shorten Facebook . 00:14:31.730 --> 00:14:34.160 So this are Leap options. They are great kind of investment to expose yourself to the underlying line when you're trying to go Long or short, can have it on a direction without spending a lot of money. you can get a great exposure to each direction that you choose. Okay, so these were leap options for now. In our next lesson, I'm going to show you something way more interesting and way more beneficial using Leap options. That you can do some magic tricks with these options. And you'll see how they can really benefit us. And we're going to see that not necessarily always, it's a good thing just to look on the strike price or at the current strike price, because there are also other strike prices and some other options, LEAP options that can be way more beneficial. So stay tuned and may all have a good luck. 4. Long leap buying deep Itm : Hello everybody and welcome to my class today I wanted to talk to you about why buying deep into money leap call options ease the best way to invest. Believe me, trust me, if you're gonna go bullish on something that you like a stock and you truly believe is that arise then this something that you must consider? First of all, when we're buying deep in the money call options, that means that you must be bullish. That means that the truly believe that the stock has been a rising, you want to make money. Now. What I'm going to show you now is a wonderful substitutions for a long stock buying. It's going to cost you between 50 to 75 percent less than the stock buying itself hands, this is way, way less riskier. Now you can also generate up to three triple times more revenue than the stock itself in ROI terms, leap options can be found for a year long and it would go up, up to two years and leaving more to one year to year. This is a very long time for investment, also an options. Third best thing here is that you're going to hardly pay any extra premium because the texture is so negligible. We're going to see that right away. There's gonna be no margin requirements whatsoever at all. And it can be bought with any simple cash account. You don't need any margin account. Let's see things that we have to keep in mind when we're going to use this prejudice. So first thing most important that you remember that this is good only for a long stock buying or for long positions. It's less better for short positions that because and the Delta with the, puts a little bit different. Second of all, you can lose as the stock falls are going to, remember that we're going bullish on something and earn only if the stock rises. So if it falls, we're going to lose sight of all. You must have a Delta 90 minimum, okay? And you're not going to be entitled or any dividends or voting rights, What's whatsoever it just like any other option that are buying, you're not entitled to a dividends. And when an all hands an expiration date, then you can choose what to do with it. You can sell it or you can exercise it by the way, you can set it anytime before that. Means if you Marilyn some money, you can exit, you can sell it, and you can make a great profit. Okay, So let's see now an example on Apple stock. Apple has been traded today at around 140 AA, something like that, some point something. And we're choosing to buy 100 shares of Apple, then we're going to need $14,860. That's big money. Big money. But on the other hand, if we're considering mind a just one call 100 option, It's going to cost us something like $29.2, maybe less, maybe more, but I assume it's going to be 25 49.2. That's total amount of investment of $4,920. Okay? As you can see here, this is the optimal chain of Apple. It has 429 days. Now. And as you can see, a 100, we traded around these numbers. And we're having here delta 91. Delta 91 means that the underlying, if the stocks that arise by $1, then our option price will theoretically gain and $0.91 for each $1 rise in younger line. And it goes up. Of course, as the stock prices up, then we're going to have a greater and greater Delta until it reaches 100 Delta. 100 delta means that stock rises $1. Our option will rise in $1. If you're having a little bit less than, we're having a little bit less rising our stock value in our option well suited. Okay, So keep in mind that here, when we're buying the, the intrinsic value of this option is 48.6. I mean, that's it. This is how much it costs and this is her value, intrinsic value, that means it cannot be sold for less. And intrinsic value is 48.6 and we're buying it for 49.2. That means we're adding just 60 more dollars. And we're going to have and almost 11 exposure to the stock itself. Now keep in mind also, we're buying this option with a 429 days ahead of expiry then that's more than one year from now. And startling rise and fall, but we don't know, but we truly believe that Apple stock will rise. So that's why we're entering this strategy. And we're having more than a year from now until expiry. And just keep in mind that we're evaluating our risks here, then we are having a variation between fourteen thousand and fifteen thousand dollars. Versus almost 5000 dollars. That means if you buy three times more the same amount with the same amount of money, you're gonna get the same long exposure to the stock itself. Okay, So let's zoom now. Something good happens with Apple starting and rises up to 175, 148.6. Okay, So that mean that the stock rise $21.4 and the stock gained $2140. Of course, when we multiplied it by 100. And because we bought shares, and if you're looking at stock gang percentage, then it made 14.4%. That's not bad. But, but look here, the option price NAV should be at least $70, because the stock itself rise to all the way to 170 and we bought colon 100. So that means that this option should be worth at least $70. And I gave and I gave it the minimum value of it, 70 minus 49.2, which was our cost and multiply it by a 100. So we $2008 option again percentage, we earned 42.2 percent. We invested $4,920 and we gained earn 2080. That means we made 42.2%. This is three times better. Three times better than buying the stock itself. And we spent this four thousand, four thousand, nine hundred dollars and not $14 thousand. This is three times better repeated. Three times the option. And we will hold that tripled our investment. Okay, So now you're saying yeah, sure, but what happens when it falls and you're going to lose money? Well, then I gave you this also this example. If Apple stock falls all the way down to one thirty, one forty eight point six, then that means that the stock has lost $18.6. All in all, if we have bought the stock itself, we have law, we would have lost $1860. That means we lost 12.5%. And the other hand, the option price, now, this is at least $30. And we've lost $19.2 and multiply by 100. That means that we've lost $1920. Well, you can do option loss percentage is 39 percent blood, 39 percent versus 12.5%. You can say, Oh, we love so much. But if you're looking here at the dollar amount, we lost almost the same. This is not a big difference. Now, I want 1860 and heroes just 10000920. Well, that's not a big difference, and we still lost the same amount of dollars. So simple. Now, let's say it felt even worse than, than 130. Let's say it went down all the way to 90. And this example you can go in and below 90. Let's say it really crashed and slammed and all down the way. So let's zoom. It fell all the way down to 90, then the stock has lost 80, $58.6. That means that we've lost $5,860 if we have bought the underlying stock itself. Now, in this case scenario, option price with 300 or can you do? But you have lost only $4,920 and you didn't lose 5,860. That's a big difference. Now, you lost last. If you have about the option itself, then you would lose only 4 thousand in $920 and not 5,860. And if there's any issues, a stock continues to fall, you still lose just $4,000.900. That's it. You cannot lose anymore. But if you do buy the underline, it can go down, down, down, theoretically, can lose $14 thousand, almost $15 thousand. But here, your maximum loads will be just $4,920. But why being so pessimistic? Let's see what happens if it rises up to 200 from 148.6, then same calculations don't be so pessimistic. And we're being optimistic because we're on bullish on the stock. So in this example, you can see that the stack is right, $51.4 rise. So that gave us a nice revenue of $5,140. And percentage wise we gained 34.5 my bad. But look at this, the option price now should be at least $100. That means they gave us a total of 5000 dollars 80 hours. Almost the same amount of gains, but percentage-wise, we've made more than 100% for our initial investment. Still we're getting it three times better return of investment here. So listen guys, this is truly the best way to get yourself exposed on the long side. When you're really truly believe in this stock that's going to rise, then you should seriously consider always just buying their long leap call options and not buying the stock itself is so much beneficial. You're going to save so much money. You can spend even three times more with the same amount of money. And maximum you're going to lose. Your initial investment in that city cannot lose any more than that. Okay? Now let's see how it works when we're buying they stock on a graph. So as you can see here, this is Apple stock and let's assume that we're low on chairs of Apple. And then you can see here that we're having a delta of 100 and they've stuck writings. Then we're going to again and again. And as long as it rises up and up, we're going to make more and more money. As you can see if it reaches here, 170, we're going to make almost a little bit more than $2 thousand profit. Now what if it falls? Are going to lose because we're bullish and we bought on alongside the stock, this stock. Now let's zoom that we have, but now just the call option. We're buying it for 429 days from now and we're paying a premium of repaying $49.2 for it. And look at this. First of all, we will have no margin requests are delta, it's pretty high, more than 90. And it rises up and up as long as the underlying arises also. Now, let's see the graph here. And we have in here two lines. The light blue line emphasizes the stock value at expiry. That means that the blue line shows us was going to happen more than a year from now. But for now, we're looking on the pink or red purple line, which shows us our current value of the option. But this 100 call option wars right now. So as you can see, also, it goes up If the stock will rise up wearing again, we're having a delta which is little bit more than 90. And if it rises and then regaining and remaking money, and if it's going to reach that 170, just like we saw in the previous example. We still go make more than $2 thousand just as we have bought the stock itself. Now on the other hand, if it falls all the way down to 100, and you can see that that's it. We cannot lose anymore than our initial investment, which was no nearly 5000 dollars. On the other hand, if you have bought the stock itself, you can see it's going to fall and fall all the way down, all the way down and you're going to lose and lose and lose and all the way down to 0. And you might lose for almost $15 thousand if you're buying the Yanomami. So if you're looking at this, looking at the underlying jogging, the stock are considering buying this long call option. I think this is way, way better, way, way smarter way to buy stocks using only call option, call option. And you're going to make all the same revenue. And you can spend less, way less money and risks yourself for a less buying these long leap call options. So she went to play smart with the market. And you truly believe that the stock is going to rise by those call leaps. See you again. I wish you great luck. Great success in their investments. Up too soon. Goodbye everybody.