Whats the LEAP status? I bought some yesterday. I don't "get" options, so I bought for reals - having a bit of trouble sitting down today... I'm waiting for sub-$5 before loading the truck. I think that will come on earning release.
I've been watching LEAP. I would have sold puts instead of buying the stock but the premium is not what it used to be, so I'm on the sidelines. Today was options expiration and the stock closed at 5.67 or so, which is strange. Earnings could be bad because PCS gave weak guidance, AT&T too. LEAP a while back said they were going to drop the $1 per day - pay as you go feature, probably because they make next to nothing on those... but Sprint is now offering that plan. LEAP is offering the Samsung Galaxy S3 in select markets -- not sure how those sales are going.
I would wait on LEAP around 5.20 or lower to add more and sell on any pop. I don't think they get bought out any time soon. But if LEAP drops to around 5.20, try selling $5 puts so you get in cheaper.
E.g., if $5 puts are trading at 30 cents, you sell those puts and it's like buying the stock at $4.70, provided the stock closes below $5 on options expiration. If you sell puts, though, you have to be ready to buy the stock if your options are exercised (1 option contract is the equivalent of 100 shares). However, if the stock closes above $5 at expiration, you keep the put premium with no obligation to buy the shares.