LEAPS are call options with a year or more until expiry. They give a long-dated position in a stock for a fraction of the share price, and the whole premium is at risk if the move does not arrive. This screener lists candidates with their expiry, the bid/ask spread you would cross to get in, and the signals attached to the underlying.
A long-dated call costs more than a near-dated one because time has value. That is the trade: you are buying room for a thesis to play out, and the premium is the price of that room. Unlike a share position, it expires — being right eighteen months after expiry is identical to being wrong.
The entire premium is at risk. A LEAP that finishes below its strike is worth nothing, regardless of how close it came or how well the company performed in the meantime.
Long-dated options are thinly traded relative to front-month contracts, and the bid/ask spread is correspondingly wider. Crossing a wide spread to enter and again to exit can consume a meaningful share of the return before the stock has done anything at all.
That is why spread quality is shown on every row rather than left to be discovered at the point of entry. A contract with an attractive strike and an unattractive spread is not an attractive trade.
Most of the structures here — cash-secured puts, bull put spreads, covered calls, the wheel — collect premium rather than pay it. Buying a long-dated call is the opposite position: it needs a sustained directional move to work, and time passing is a cost rather than a benefit.
LEAPS are included because the setup genuinely exists and some people want it. They are not presented as the default, and the screener shows the spread and the expiry prominently so the cost of the position is visible before it is taken.
Long-term equity anticipation securities: listed options with an expiry a year or more away. Mechanically they are ordinary calls and puts; the only difference is how much time they carry and, consequently, how much they cost.
The entire premium paid. The loss is capped at what you put in — unlike a short position — but a call that expires below its strike is worth zero, so "capped" and "total" are the same number here.
They are different. A LEAP needs the move to happen before a date; shares do not expire, pay any dividend and can be held indefinitely. The option costs less up front and can return more per dollar committed, and it can also go to zero while the company does nothing wrong.