LEAPS vs. Margin Comparison for GLD
Stock Price: $381.4
Option Symbol: GLD280121C00400000
Option Expiry: 2028-01-21
Days to Expiration: 461 days
Strike Price: $400
Option Premium: $41.95
Live Delta: 0.566
LEAPS Leverage: 5.15x
LEAPS Breakeven: $441.95 +15.9%
LEAPS Premium: 11%
Additional Greeks:
Gamma: 0.0039
Theta: -0.0647
Vega: 1.6884
Rho: 2.199
Implied Volatility: N/A
Open Interest: 6,085
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Scenario Comparison
Initial Investment: $4,195.00
Exit Strategy: Sell After 1 Year
LEAPS Gain = Intrinsic Value + Time Value
96 Time Value Days Remaining
| Stock Move | New Price | LEAPS Gain | LEAPS ROI | Margin Gain | Margin ROI |
|---|
| 50% | $572.1 | $14,529.97 | 346.36% | $3,785.37 | 90.24% |
| 25% | $476.75 | $4,994.97 | 119.07% | $1,783.02 | 42.50% |
| 10% | $419.54 | $-726.03 | -17.31% | $581.61 | 13.86% |
| 0% | $381.4 | $-2,680.03 | -63.89% | $-219.33 | -5.23% |
| -10% | $343.26 | $-2,680.03 | -63.89% | $-1,020.27 | -24.32% |
| -25% | $286.05 | $-2,680.03 | -63.89% | $-2,221.68 | -52.96% |
| -50% | $190.7 | $-2,680.03 | -63.89% | $-4,224.03 | -100.69% |
Stock Move: 50%
New Price: $572.1
Intrinsic Value: $17210
LEAPS Gain: $14,529.97
LEAPS ROI: 346.36%
Margin Gain: $3,785.37
Margin ROI: 90.24%
Stock Move: 25%
New Price: $476.75
Intrinsic Value: $7675
LEAPS Gain: $4,994.97
LEAPS ROI: 119.07%
Margin Gain: $1,783.02
Margin ROI: 42.50%
Stock Move: 10%
New Price: $419.54
Intrinsic Value: $1954
LEAPS Gain: $-726.03
LEAPS ROI: -17.31%
Margin Gain: $581.61
Margin ROI: 13.86%
Stock Move: 0%
New Price: $381.4
Intrinsic Value: $0
LEAPS Gain: $-2,680.03
LEAPS ROI: -63.89%
Margin Gain: $-219.33
Margin ROI: -5.23%
Stock Move: -10%
New Price: $343.26
Intrinsic Value: $0
LEAPS Gain: $-2,680.03
LEAPS ROI: -63.89%
Margin Gain: $-1,020.27
Margin ROI: -24.32%
Stock Move: -25%
New Price: $286.05
Intrinsic Value: $0
LEAPS Gain: $-2,680.03
LEAPS ROI: -63.89%
Margin Gain: $-2,221.68
Margin ROI: -52.96%
Stock Move: -50%
New Price: $190.7
Intrinsic Value: $0
LEAPS Gain: $-2,680.03
LEAPS ROI: -63.89%
Margin Gain: $-4,224.03
Margin ROI: -100.69%
Equal Capital Projection
Based on +25% stock price in 1 year.Total Capital Used: $4,195.00
Projected Stock Price (+25%): $476.75
LEAPS Gain: $4,994.97 | ROI:
119.07%Margin Gain: $1,783.02 | ROI:
42.5%LEAPS returned 180% more gains than Margin.
Based on +50% stock price in 1 year.Total Capital Used: $4,195.00
Projected Stock Price (+50%): $572.1
LEAPS Gain: $14,529.97 | ROI:
346.36%Margin Gain: $3,785.37 | ROI:
90.24%LEAPS returned 284% more gains than Margin.
Based on -25% stock price in 1 year.Total Capital Used: $4,195.00
Projected Stock Price (-25%): $286.05
LEAPS Gain: $-2,680.03 | ROI:
-63.89%Margin Gain: $-2,221.68 | ROI:
-52.96%LEAPS lost 21% more than Margin.
Based on -50% stock price in 1 year.Total Capital Used: $4,195.00
Projected Stock Price (-50%): $190.7
LEAPS Gain: $-2,680.03 | ROI:
-63.89%Margin Gain: $-4,224.03 | ROI:
-100.69%LEAPS lost 37% less than Margin.
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Power User Breakdown
Based on +25% stock price in 1 year.
Contract Expiration: 2028-01-21 (461 days total)
Days Remaining After 1 Year: 96 days
Option Premium: $41.95
Initial Stock Price: $381.40
Strike Price: $400.00
Projected Stock Price (+25% in 1 Year): $476.75
Price Difference (Projected - Strike): $76.75
Total Capital Used: $4,195.00
LEAPS Gain Components (Sell After 1 Year):
Intrinsic Value: $7,675.00
Time Value Remaining: $1,514.97
Total LEAPS Value: $9,189.97
Initial LEAPS Cost: $4,195.00
Total LEAPS Gain: $4,994.97
Margin Gain Components (Sell After 1 Year):
Shares Bought: 21
Total Stock Cost: $8,009.40
Borrowed Amount: $3,814.40
Interest Paid: $219.33
Total Margin Gain: $1,783.02
LEAPS vs. Margin Comparison:
LEAPS ROI: 119.07%
Margin ROI: 42.50%
LEAPS Gain: $4,994.97
Margin Gain: $1,783.02
LEAPS Gain Advantage: +$3,211.95
LEAPS returned 180% more gains than Margin.
LEAPS Risk to Reward Score
Good Risk to Reward
80/100
Base Performance Score: 80
Bonuses: 10
- +5 (12-18 Month Expiration)
- +5 (ATM Strike)
Penalties: 10
Final Risk vs Reward Score: 80/100
Base Performance Score is based on how much better LEAPS perform than margin.
It's calculated as (LEAPS ROI - Margin ROI) * 1.5, capped at 80.