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In this video we are talking about my LEAPS + INCOME portfolio update for September 2025 and how I was able to create significant positive income.
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Pairing LEAPS (Long-term Equity Anticipation Securities) contracts on IWM and QQQ with weekly put credit spreads on those same indexes is a structured approach for investors seeking both growth and consistent income. Here’s a comprehensive explanation of how this works:

Strategy Overview
LEAPS Calls for Long-Term Growth:
Buying deep-in-the-money or high-delta LEAPS call options on IWM and QQQ creates a leveraged, long-term position. This gives exposure to market upside, mimicking stock ownership but typically at a fraction of the capital outlay.

Weekly Put Credit Spreads for Short-Term Income:
Overlaying this with weekly put credit spreads—selling a put at a selected strike and buying a lower strike put with the same expiration—lets the portfolio generate regular income. This tactic harnesses rapid time decay (theta) experienced in the final week before option expiration.

How the Combination Works
LEAPS Calls:

Provide upside exposure as the market rises; if QQQ or IWM increases in value, the LEAPS call appreciates, participating in market growth.

Have lower delta decay and smaller theta losses compared to shorter-term options, making them more suitable for long holding periods.

Weekly Put Credit Spreads:

Collect premium each week, profiting if the ETF stays above the short put's strike at expiration.

Spreads cap risk (max loss is defined by the distance between strikes minus the credit received), adding a risk-controlled income stream.

Time decay accelerates in the final week, so the premium collected decays favorably if the index remains stable or rises.

Portfolio Effects
The LEAPS portion is responsible for most of the participation in bull markets, capturing significant gains when IWM and QQQ trend upward.

The weekly credit spreads aim to generate steady income in both flat and moderately rising markets. If timed well, they provide a cash flow that can either be reinvested or used to hedge the portfolio.

This combination can help offset periods when LEAPS are static, and provides risk-defined income that scales with market volatility—higher volatility results in bigger weekly option premiums.