Long-term Equity AnticiPation Securities (LEAPS) are a form of option that gives the holder the right to buy newly issued shares of stock directly from the issuing corporation.

Question

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LEAPS are a type of option that gives the holder the right to buy or sell an existing stock at a specified price before the option expires, not to buy newly issued shares directly from the corporation.

Long-Term Equity AnticiPation Securities (LEAPS) Are a Form of Option