well there are many ways how to achieve the leverage, but I understand that for an individual, options can be the way. I have been managing options portfolio in a bank for many years, where leverage is achieved on balance sheet level, therefore I may be looking at options from a different perspective.
@pfcfaataf - there are so many ways to view and use options, which is why they are so cool. I specifically took numbers so close to expiration above because that’s the point where greeks are essentially broken and the at-the-money gamma is LARGE. But the greeks are just one part, ya know? greatest leverage would also (or should in theory at least) put the greatest risk on the balance sheet too.