u/BringTheFood ·
Reddit — r/options
· August 10, 2026 at 03:47
· ⬆ 11 pts
· 💬 12 comments
| View on Reddit ↗
AI Summary
Summary
Community is sharply critical of long-dated put LEAPS on SPY; the top comment calls them “genuinely the worst investment.”
The thread stresses having a plan for the market rising before holding put LEAPS; if you would not open the trade now, the advice is to exit.
One commenter offers a repair/management alternative: sell short-dated puts against the long put LEAPS — a “poor man’s covered put.”
No earnings were discussed.
Score11
Comments12
▶ Full Post Text
[+11] u/Ecstatic-Score2844: Put leaps is genuinely the worst investment I could even think of
[+9] u/CheeseSteak17: Did you have a plan for the market rising?
Throw it into optionstrat or similar and see how you feel. Would you make this trade now? If not, dump it.
You can sell short duration puts against it. Poor mans covered put.
The highest-upvoted comment says put LEAPS are “genuinely the worst investment,” and another commenter asks whether there is a plan for the market rising. Long-dated SPY puts carry significant time decay and can bleed premium if the market grinds higher, making the risk/reward poor without a clear upside plan. Avoid initiating new long-dated SPY puts; if you already hold them and would not make the trade today, the community advice is to dump them. This is a strategy-quality warning, not a price forecast; a sharp SPY selloff could still make long put LEAPS profitable.
This Reddit post, published August 10, 2026,
features r/options community
discussing SPY.
1 trade idea extracted by AI with direction and confidence scoring.