Member tool
LEAPS Visualizer
Buy a long-dated call instead of the stock: limited risk, multi-year upside. See what the stock has to do for you to break even — and how much of your premium is time value melting away.
Your trade
Type in the numbers from your broker screen. Everything updates as you type.
What the stock is trading at right now.
Enter a stock price above zero.
The price you'd have the right to buy at — at or below today's price is typical for LEAPS.
Enter a strike price above zero.
The ask on your broker screen — what you pay per share (×100 per contract).
Enter a premium above zero.
LEAPS run a year or more out — 12 to 36 months is typical.
Enter zero or more months.
Profit / loss at expiry
Per contract, depending on where the stock finishes on expiry day.
How the math worksEvery formula, in one line each
LEAPS Visualizer: questions
Straight answers about the trade this tool maps.
What are LEAPS?
LEAPS are long-dated options, usually a year or more to expiry. Buying a LEAPS call gives you exposure to 100 shares for a fraction of their price, with your risk limited to the premium you pay. We use them as the growth half of the strategy — see LEAPS dip buying.
How is the breakeven on a LEAPS call calculated?
Breakeven at expiry is the strike plus the premium per share. The tool also shows how far the stock has to rise from today's price to reach it, as a percentage, so you can judge whether the move is realistic over the time you have.
What is time value, and why does it matter?
Time value is the part of the premium above intrinsic value — the stock price minus the strike, if positive. It melts away as expiry approaches, so it is the cost of waiting. Deep in-the-money LEAPS carry less time value and behave more like the shares.
What is the most I can lose on a LEAPS call?
The premium you paid. If the stock finishes below the strike at expiry, the call expires worthless and that premium is gone; nothing more can be lost. That limited risk is the trade-off against buying the shares outright.
Follow Yield and Growth
Free screens every market day, trade breakdowns, and new tools — wherever you scroll.