Well one advantage of buying in the money calls is that assuming things don't go the way you wanted, you get to keep the intrinsic value. I don't think it is that hard to get 93% intrinsic value. So if the stock stayed the same, you would only be down 7%, instead of losing everything.

That's in keeping with one of my main insights about using leverage:
FIRST, pick something you're absolutely sure will be higher at a later date, even if the rate of return is low and you're not sure when it will be higher.
THEN (and only then), add leverage.
Even a very small amount of leverage will turn a modest return into an excellent return.
The flip side is, never add leverage to something speculative (anything you don't consider pretty close to a sure thing): it's risky, and there is no need to take that risk.

In the context of long calls, the advantage is that the lower the leverage (deeper in the money the strike is), the lower the implied interest rate on the borrow is AND the lower the amount being borrowed on which you're paying the interest rate.

Jim