Is 0.70 Delta Really Enough to buy LEAP? (BE vs NVDA)

Most YouTube LEAPS gurus talk a lot about delta: Buy 0.70 delta. Buy deep ITM. Get more stock-like exposure. Become financially free like them and all their subscribers… But almost nobody talks about **Premium at Risk** — option premium / stock price. And how much you should agree to pay And I think that can completely change whether a LEAP is worth buying. Take two Jan 2028 calls with almost the same delta: **NVDA** Stock \~$218 $200 call \~$55 Delta \~0.70 **Premium at Risk: \~25%** **BE (Bloom Energy)** Stock \~$211 $220 call \~$86 Delta \~0.71 **Premium at Risk: \~41%** Both also have IV near the lower end of their own one-year range. So even with low IVP, \~0.70 delta and a long expiration, you can still end up risking **41% of the stock price in option premium**. That’s the part I think gets missed. If I keep buying LEAPS where I’m putting 40%+ of the stock price at risk, over many trades I’m taking a lot of option risk for not that much capital savings. At some point, I’d rather just buy the stock. For me, delta is not enough. Low IVP is not enough. I also want to know: **How much of the stock price am I actually risking in premium?** Curious how other LEAPS buyers look at this. Do you have a Premium at Risk level where you stop buying the LEAP and just buy shares? My book **LEAPS Investing Made Practical** is free today. Link in my bio.