Any brokers offer long LEAPS with 75% margin? What about with a covered OTM call? I recall reading a while back that the regulators now allow this, at least the former.
Unless something has changed you do not buy options on margin, it is a debit and you have to pay the entire cost.
Margin: For purchases of puts or calls with more than 9 months until expiration, deposit / maintain 75% of the total cost / option current market value. When time to expiration reaches 9 months, the option no longer has value for margin purposes. Purchases of puts or calls with 9 months or less until expiration must be paid for in full. From CBOE SPX Leap - no retail broker is equipped to offer it, because they will need to be hand calculated, http://www.cboe.com/products/stock-...-options/spx-leaps/equity-leaps-options-specs