jasonl_capital @jasonl_capital

“You could buy 100 shares of $VST right now for about $16,672. Or you could buy the $150 call LEAP expiring January 2028 for about $4,813. Leveraged exposure to the same 100 shares. ~71% less capital. Over 470 days of runway. The trade: Strike: $150 Expiration: January 21, 2028 Premium: ~$48.13 ($4,813 per contract) Breakeven: $198.13 At expiration: If $VST hits $210, this LEAP returns ~25% If $VST hits $230, this LEAP returns ~66% If $VST hits $250, this LEAP returns ~108% 100 shares at $250 would return ~50%. Why I like the setup: - Meta signed 20-year deals for 2,609 MW of Vistra's nuclear power, including 433 MW of new capacity from uprates - A separate 20-year, 1,200 MW deal at Comanche Peak starts delivering in Q4 2027 - The DOE just announced a conditional commitment for up to $4.2B in loans to upgrade Vistra's nuclear plants - Q2 adjusted EBITDA from ongoing operations was $1.77B, up 31% year over year, and 2026 guidance of $6.8B to $7.6B was reaffirmed - $6.5B of stock bought back since November 2021, with the share count down about 30% - Trades at about 16x forward earnings and sits 23% below its 52 week high - The January 2028 expiration gives those contracts time to start showing up in the numbers The max you can lose on a LEAP is the entire premium you paid. In this case, that's $4,813 per contract. LEAPs are leveraged and can lose value quickly if the stock drops or stays flat. Only size this so you're comfortable losing all of it. Note: LEAPs are one tool inside a broader portfolio. Owning shares is always the primary use of capital. This is a selective add-on for high-conviction moments when conditions align. NFA DYOR”

“You could buy 100 shares of $AMZN right now for about $25,800. Or you could buy the $250 call LEAP expiring January 2028 for about $5,400. Leveraged exposure to 100 shares. ~79% less capital. Over 480 days of runway. The trade: Strike: $250 Expiration: January 21, 2028 Premium: ~$54 per contract Breakeven: $304 If $AMZN hits $320, this LEAP returns ~30% If $AMZN hits $360, this LEAP returns ~104% If $AMZN hits $400, this LEAP returns ~178% 100 shares at $400 returns ~55%. The LEAP returns more than 3x that on a fraction of the capital. Why I like the setup: - Q2 revenue up 20% to $200.6B, operating income up to $27.5B from $19.2B a year ago - AWS grew 37% to $42.2B, its fastest growth in 18 quarters - AWS backlog sits at $496B, up from $364B the prior quarter - Custom chip business now runs above $25B a year, growing triple digits, with Anthropic and OpenAI both committed to Trainium for multiple gigawatts - Advertising up 26% year over year - Stock is about 10% below its August high, and next earnings are expected in late October - 487 days of runway gives this trade time to work through short-term noise The max you can lose on a LEAP is the entire premium you paid. In this case, that's $5,400 per contract. LEAPs are leveraged and can lose value quickly if the stock drops or stays flat. Only size this so you're comfortable losing all of it. Note: LEAPs are one tool inside a broader portfolio. Owning shares is always the primary use of capital. This is a selective add-on for high-conviction moments when conditions align. NFA DYOR”

“You could buy 100 shares of $PEP for roughly $13,400. Or you could buy the $110 call expiring January 2028 for roughly $31 per share. That's $3,100 per contract for leveraged exposure to 100 shares of PepsiCo. About 77% less capital, with 16 months until expiration. The trade: Strike: $110 Expiration: January 21, 2028 Breakeven at expiration: $141 Why the setup is interesting: - Pepsi, Lay's, Doritos and Gatorade under one company - Q2 revenue reached $24.2 billion, up 6.4% YoY - International Beverages Franchise organic revenue grew 9% - Management still expects 5–7% core earnings per share growth in 2026 The bet is that North American demand improves while the international business keeps growing. North American beverage volume fell 4% last quarter, so the recovery still has to happen. If the stock's price is $150 at expiration, the LEAP returns roughly 29%. If the stock's price is $160 at expiration, the LEAP returns roughly 61%. If the stock's price is $170 at expiration, the LEAP returns roughly 94%. For comparison, shares at $170 would return roughly 27% before dividends. You don't collect PepsiCo's dividend while holding the call. You're buying this for a recovery in the share price. The max you can lose is the entire $3,100 premium. If $PEP is at or below $110 at expiration, the call expires worthless. If you're not comfortable losing that $3,100, you shouldn't be buying this contract. Not financial advice. I share these for education.”

“You could buy 100 shares of $AVGO right now for about $33,957. Or you could buy the $300 call expiring January 2028 for roughly $94, which is $9,410 for one contract. That's leveraged exposure to 100 shares of Broadcom for about 72% less capital, with 493 days of runway. Strike: $300 Expiration: January 21, 2028 Premium: about $94 per share Breakeven: $394, about 16% above where the stock trades today $39.57 of that premium is already intrinsic value. You're paying about $54 in time value for 16 months. If $AVGO hits $450 by expiration, the LEAP returns roughly 59% versus 33% on shares. If $AVGO gets back to its 52 week high of $495, the LEAP returns roughly 107% versus 46% on shares. If $AVGO hits $550, the LEAP returns roughly 166% versus 62% on shares. Why I like the setup: - AI semiconductor revenue was $16.7B last quarter, up 221%, with this quarter guided to $21.7B - Hock Tan said Broadcom has already secured the supply to double AI revenue to roughly $115B in 2027, with line of sight to $230B in 2028 - Anthropic is set to become the largest custom chip customer in 2027 with an incremental 10 gigawatts in 2028, and OpenAI is deploying over 5 gigawatts in 2028 - Free cash flow was $13.7B last quarter, 46% of revenue - The stock is 31% below its June high with the AI selloff, so you are buying the same growth at a lower entry - 493 days of runway covers five more earnings reports The max you can lose on a LEAP is the entire premium you paid. In this case that's $9,410 per contract. Broadcom has already dropped 31% from its high in three months, and if it stays flat or keeps sliding this contract loses value every day. Only size this so you're comfortable losing all of it. Note: LEAPs are one tool inside a broader portfolio. Owning shares is always the primary use of capital. This is a selective add-on for high conviction moments when conditions align. NFA DYOR”

“You could buy 100 shares of $SOFI right now for $1,750. Or you could buy the $15 call LEAP expiring January 2028 for ~$630. Same directional exposure. ~64% less capital. 494 days of runway. The trade: Strike: $15 Expiration: January 21, 2028 Premium: ~$6.30 per share (~$630 per contract) Breakeven at expiry: $21.30 If $SOFI runs to $30 by expiry: 100 shares: +$1,250 (+71%) 1 LEAP contract: +$870 (+138%) Same direction. Nearly double the return on about a third of the capital. Why SOFI: record $1.2B quarterly revenue, up 40% year over year. Record 15.8M members, up 35%. Record $14.8B in loan originations. $157M net income, profitable, and they just raised full-year revenue guidance. The stock is down ~35% this year anyway. Record business, sale price. That disconnect is the opportunity, and the LEAP lets you buy it with ~64% less capital. NFA. DYOR.”