Long-Term Anticipation Securities
Long-Term Anticipation Securities (LEAPS)
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.