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The owner of the share essentially creates the LEAP. The result at the end of the LEAP can be determined from its exercise price. (LEAPs are written for a variety of exercise prices.) For a CALL LEAP, if the stock closes below the exercise price, the buyer of the LEAP has lost what he spent to buy the LEAP. If the closing price is higher than the exercise price, the LEAP is usually exercised automatically by the broker. The buyer can then sell the stock. Its cost of the action for the LEAP buyer is the cost of the LEAP plus the exercise price (and any commissions). Most of the time, the leap buyer is a speculator hoping that the stock will rise so far in the market price that he will be able to make a profit when the LEAP expires. In OCOL`s 2016-2017 report, written complaints are directly related to client misunderstandings about the cost of legal services. .