Homepage ( Static page or Latest Post ) ?

I am wondering is it better for SEO if I make my homepage a

1) static page with one long article and aim for a super low keyword density and get some backlinks pumped into it .

or

2) latest post and make a page with one super long article targetting the keyword and get backlinks split for the homepage and the long post page targetting the keyword

what do you think is the better option ?

Depends from site to site.
If you have blog style site with fresh new content every day - use latest article on home page.
If you have site with fixed number of posts - use one main article on home page that link to all inner pages.

Agree with the guy above ^. Also it depends a lot on whether you're tryign to rank the homepage or you're more aiming for ranking subpages.

hmm yeah makes sense, I am going for the blog approach.

Thanks for clarifying

I presume you are blogging. Do latest post but only one and have some click bait to the side. Static pages are great if you are doing a how-to site etc. which may not be updated as regularly as a blog. I would use latest post. A nice theme for Wordpress (.org) is surfama for this as it shows a pic(if any) the title and the first line. It is a mixture of both.