I am looking for the most conservative option strategy that will allow me to swing trade equities without having full exposure. The problem with traditional money management is that stop are tough to implement in a market that can have huge overnight gaps. Is there such a strategy that allows you to limit exposure to equities and does not kill a trade with theta burn and expiration? (Or am I asking for something that isn't possible according to the risk/reward model?) Are LEAPS the answer? Thank you for your time!