Long-term equity anticipations (LEAPS) are?

a. stocks that have a maturity date.

b. stocks that are converted to bonds once the price reaches a specified level.

c. stock options with longer terms to expiration than the more traditional stock options.

d. stock index futures that can have a more distant settlement date than the more typical stock options.

Ans: C. Stock options with longer terms to expiration than the more traditional stock options.