What are Long-Term Equity Anticipation Securities (LEAPS)?
Long-Term Equity Anticipation Securities (LEAPS) are publicly-traded options contracts with expiration dates that are longer than one year. Structurally, LEAPS are no different than short-term options, but the later expiration dates offer the opportunity for long-term investors to gain exposure to prolonged price changes without needing to use a combination of shorter-term option contracts.
