Long-Term Anticipation Securities

Long-Term Anticipation Securities (LEAPS)

Long-term options.

Long-Term Equity Anticipation Securities

Stock options with expiration of two to three years following issue. Most stock options expire nine months after issue; an advantage to LEAPS is the fact that there is a longer period of time for a desired price movement to take place, maximizing the possibility of profit. However, LEAPS are more expensive than other stock options.
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It trades options on 30 broad-based and sector indexes and 1,083 domestic and foreign stocks, as well as Long-term AnticiPation Securities (LEAPS(R)) on 117 stocks.