Options Playbook 16: Buying LEAPS Calls as a Stock Substitute

Options Playbook 16: Buying LEAPS Calls as a Stock Substitute For those of you with the book, we’re on page 32. Or, you can find it on OptionsPlaybook.com in the “Rookies” tab  and look for “Buying LEAPS Calls as a Stock Substitute.” Today Brian discusses: A review of buying calls, in-, at-, and out-of-the-money How LEAPS can be an alternative to buying a short-term, out-of-the-money call What are LEAPS? What impact does delta have on long-term options? Using a real IBM option as an example Caveats, including dividends and bid/ask spreads