Deep ITM LEAPS: Stock Replacement
A deep-ITM LEAPS call stands in for 100 shares at a fraction of the cash. We trace one real SPY LEAPS through its deep in-the-money life to show the trade.
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What Are LEAPS? Long-Dated Options
LEAPS are options that expire more than a year out. Follow one real SPY call across two full years as its delta climbs toward 1 and its price rises tenfold.