Tool guide
LEAPS Scanner
Long-dated calls and puts that let you own the thesis for pennies on the dollar: conviction bets with months to be right, not days.
Open the tool →What it is
Long-dated calls and puts that let you own the thesis for pennies on the dollar: conviction bets with months to be right, not days. Finds long-dated options (180+ DTE) for stock-replacement (PMCC) or leveraged-directional plays, using a three-stage funnel over live Tradier chains.
Two strategy modes
- Stock Replacement (delta 0.75–0.90): Deep-ITM calls that act like the stock for less capital. You capture most of the stock's upside with significantly less capital at risk.
- Leveraged Directional (delta 0.35–0.50): Cheaper OTM for outsized moves. Higher leverage, higher risk, needs a bigger move to profit.
How to read each result
Delta, Extrinsic %, Score, and the 4-factor EdgeScore: extrinsic efficiency (40%), capital efficiency (30%), theta decay (20%), liquidity (10%). Spread ≤ 15%, OI ≥ 200 are hard filters. Trend-aligned only — no LEAPS suggested against the underlying's trend.
Watch it
Concepts used here
- Implied volatilityThe market's expectation of future movement, baked into the option's price.
- DTEDays to Expiration — low DTE signals urgency; high DTE signals a longer-horizon thesis.