Definition
Long-term Equity Anticipation Securities give a longer time frame, so they decay slowly and cost more in absolute terms. Some investors use deep in-the-money LEAPS as a lower-capital stand-in for owning shares.
LEAPS
Options with expirations more than a year away.
Learn it in context with PDB Academy
Guides, short videos and a plain-English glossary in one place, with tools to try each idea on real market data. The basics are free.
Create a free accountOpen PDB Academy