No. I'm suggesting that sometimes it's better to use a middle month (6-8 months out) as your long leg instead of a furthest month LEAP. Calculate the cost per day and decide if the somewhat higher cost per day for the middle month is worth the reduction of downside risk of the LEAP, should the underlying tank.Quote from coveredballs:
Just to clarify, are you saying instead of selling OTM calls in say April, I should go further out to say July?