### Comment:
How does that work?

### REPLY:
Buying puts work as insurance.  I.e. he effectively locked in his price until the expiry of his option. 
  
 I suppose if he bought leap puts for an amount less than his tax rate - cap gains rate, he's probably coming out ahead. 
  
 IDK why he just didn't sell them tho, most of his tendies are already long term

### END.