LEAPS / Long Term Equity Anticipation Securities Meaning & Definition

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Definition of LEAPS / Long Term Equity Anticipation Securities

LEAPS / Long Term Equity Anticipation Securities are long-term options on a security that have an expiration of up to 39 months

Applying "LEAPS / Long Term Equity Anticipation Securities" to Securities Exams:

LEAPS / Long Term Equity Anticipation Securities may be used by investors to take a long term position in a security using options. Unlike standard options LEAPS have an expiration that may go up to 39 months in duration.