How to do a poor man's covered call on Robinhood?

The speaker, Brad Finn, explains that acquiring 100 shares of a stock to write covered calls would typically cost $24,000. This poses a significant financial barrier for many investors.

The concept of a Poor Man's Covered Call Options Strategy is introduced, particularly utilizing a LEAPS contract. This strategy aims to minimize the initial capital outlay while still allowing investors to generate income from option writing.

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However, by utilizing a LEAPS contract, investors can write options for a much lower cost compared to purchasing the underlying shares outright. LEAPS, or Long-Term Equity Anticipation Securities, are options contracts with expiration dates further out than traditional options.

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