| 1 synthetic LEAPS in SPY (long call, short put) | $2k | $60k | 30x |
| 1 /MES future | $2k | $30k | 15x |
In all cases but the first, you are paying less to have a higher exposure in the same market. Each has a different risk profile, generally increasing with leverage. In all cases you can lose money.
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Only the 1st case involves actually owning shares. For derivatives, it is not too important whether you end up with shares or not, as the P/L will be similar to owning the exposed amount.
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All but the 1st case have expirations, but you can continually roll them to future dates to simulate a buy and hold, which requires some active management.
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Only the first two case involves actually owning shares. For derivatives, it is not too important whether you end up with shares or not, as the P/L will be similar to owning the exposed amount. They also have expirations, but you can continually roll them to future dates to simulate a buy and hold.