long-dated option

Definition

A type of strategy option with an expiry date in excess of 2-3 years. However, it used to be referred to as an option with an expiration date of more than a year. This option is usually used to reduce the risk of investing in stock options. It is also known as LEAP (long-term equity anticipation security). Opposite to this option is the Short-date option, which has a lower implied volatility.
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long-dated gift longevity bond