Let's say I am bullish on company XYZ at the current price. I feel like they will go up long term, and are priced well.
I can sell a PUT on XYZ at a lower price than it is currently trading (i.e. out of the money), and "win" either way: if the stock doesn't drop down, I collect the put premium on expiration, and "do it again"; if the stock drops down, I collect the put premium and get to own XYZ at an even lower price (than if I had bought it at the initial price).
Now, while I like this strategy, I also like to own leaps (calls) deep in the money on stocks, instead of owning the stock outright. I'm able to get more leverage than buying the stock outright, and it allows me to get rid of short term risk / fluctuations in the price of the stock.
The question is, can I do the same thing as above, selling ?, and if the stock price drops, have the leap assigned to me. What is it I could sell, and what would be the mechanism to get the leap assigned to me?