Key PointsLEAPS are long-dated options contracts with expirations at least 12 months out.You can use them with options strategies where the investor can collect heavy theta premiums.Speculators can bet on recovery from a sharp price drop on a short-term temporary catalyst like an inventory glut, migration to a subscription model, or backlogged orders with raised full-year guidance.5 stocks we like better than SnapSuppose you're a long-term investor looking to collect premiums passively or strongly believe i ...