LEAPS

LEAPS definition - finance
Long-term equity options. Instead of expiring in several months, LEAPS can remain in effect for up to three years after their initial listing. LEAPS are not available on every stock. They have their own unique ticker symbol and trade on the major stock exchanges.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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