did guy cohen make a living on selling leaps? because that's the only sense i make of that. if i want to make a directional play, i want an option that is going to be most sensitive. i want an option that has gamma. short term options have time decay, but longer term options expose you to vega. if vol drops 2 points across all expirations, the longer term options get hit the most.
No sure anyone can make living with LEAPs, but I am sure you make a lot of money from selling books on how to trade LEAPs