Today I bought LEAP calls on my two largest positions. I bought 2012 LEAP calls on HP at a $40 strike for $12.70 per share and a 2012 LEAP call on AAPL with a $180 strike for $56.50 per share.
Buying the calls means I own the right to buy the stocks at the strike price any time between now and January 2012. It's a good way to regain liquidity without sacrificing too much upside potential. I can now sell my full positions of HP and AAPL if I need the cash to buy cheap stocks, but I will still profit if HP and AAPL continue to rise.
