LEAPS vs. Margin Comparison for GLD
Stock Price: $423.15
Option Symbol: GLD270617C00440000
Option Expiry: 2027-06-17
Days to Expiration: 516 days
Strike Price: $440
Option Premium: $44.61
Live Delta: 0.5649
LEAPS Leverage: 5.36x
LEAPS Breakeven: $484.61 +14.5%
LEAPS Premium: 10.5%
Additional Greeks:
Gamma: 0.0036
Theta: -0.0595
Vega: 1.9825
Rho: 2.7461
Implied Volatility: N/A
Open Interest: 2,749
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Scenario Comparison
Initial Investment: $4,461.00
Exit Strategy: Sell After 1 Year
LEAPS Gain = Intrinsic Value + Time Value
151 Time Value Days Remaining
| Stock Move | New Price | LEAPS Gain | LEAPS ROI | Margin Gain | Margin ROI |
|---|
| 50% | $634.73 | $17,023.16 | 381.60% | $4,188.63 | 93.89% |
| 25% | $528.94 | $6,444.41 | 144.46% | $1,967.09 | 44.10% |
| 10% | $465.47 | $97.16 | 2.18% | $634.17 | 14.22% |
| 0% | $423.15 | $-2,449.34 | -54.91% | $-254.45 | -5.70% |
| -10% | $380.84 | $-2,449.34 | -54.91% | $-1,143.06 | -25.62% |
| -25% | $317.36 | $-2,449.34 | -54.91% | $-2,475.98 | -55.50% |
| -50% | $211.58 | $-2,449.34 | -54.91% | $-4,697.52 | -105.30% |
Stock Move: 50%
New Price: $634.73
Intrinsic Value: $19472.5
LEAPS Gain: $17,023.16
LEAPS ROI: 381.60%
Margin Gain: $4,188.63
Margin ROI: 93.89%
Stock Move: 25%
New Price: $528.94
Intrinsic Value: $8893.75
LEAPS Gain: $6,444.41
LEAPS ROI: 144.46%
Margin Gain: $1,967.09
Margin ROI: 44.10%
Stock Move: 10%
New Price: $465.47
Intrinsic Value: $2546.5
LEAPS Gain: $97.16
LEAPS ROI: 2.18%
Margin Gain: $634.17
Margin ROI: 14.22%
Stock Move: 0%
New Price: $423.15
Intrinsic Value: $0
LEAPS Gain: $-2,449.34
LEAPS ROI: -54.91%
Margin Gain: $-254.45
Margin ROI: -5.70%
Stock Move: -10%
New Price: $380.84
Intrinsic Value: $0
LEAPS Gain: $-2,449.34
LEAPS ROI: -54.91%
Margin Gain: $-1,143.06
Margin ROI: -25.62%
Stock Move: -25%
New Price: $317.36
Intrinsic Value: $0
LEAPS Gain: $-2,449.34
LEAPS ROI: -54.91%
Margin Gain: $-2,475.98
Margin ROI: -55.50%
Stock Move: -50%
New Price: $211.58
Intrinsic Value: $0
LEAPS Gain: $-2,449.34
LEAPS ROI: -54.91%
Margin Gain: $-4,697.52
Margin ROI: -105.30%
Equal Capital Projection
Based on +25% stock price in 1 year.Total Capital Used: $4,461.00
Projected Stock Price (+25%): $528.94
LEAPS Gain: $6,444.41 | ROI:
144.46%Margin Gain: $1,967.09 | ROI:
44.1%LEAPS returned 228% more gains than Margin.
Based on +50% stock price in 1 year.Total Capital Used: $4,461.00
Projected Stock Price (+50%): $634.73
LEAPS Gain: $17,023.16 | ROI:
381.6%Margin Gain: $4,188.63 | ROI:
93.89%LEAPS returned 306% more gains than Margin.
Based on -25% stock price in 1 year.Total Capital Used: $4,461.00
Projected Stock Price (-25%): $317.36
LEAPS Gain: $-2,449.34 | ROI:
-54.91%Margin Gain: $-2,475.98 | ROI:
-55.5%LEAPS lost 1% less than Margin.
Based on -50% stock price in 1 year.Total Capital Used: $4,461.00
Projected Stock Price (-50%): $211.58
LEAPS Gain: $-2,449.34 | ROI:
-54.91%Margin Gain: $-4,697.52 | ROI:
-105.3%LEAPS lost 48% less than Margin.
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Power User Breakdown
Based on +25% stock price in 1 year.
Contract Expiration: 2027-06-17 (517 days total)
Days Remaining After 1 Year: 152 days
Option Premium: $44.61
Initial Stock Price: $423.15
Strike Price: $440.00
Projected Stock Price (+25% in 1 Year): $528.94
Price Difference (Projected - Strike): $88.94
Total Capital Used: $4,461.00
LEAPS Gain Components (Sell After 1 Year):
Intrinsic Value: $8,893.75
Time Value Remaining: $2,011.66
Total LEAPS Value: $10,905.41
Initial LEAPS Cost: $4,461.00
Total LEAPS Gain: $6,444.41
Margin Gain Components (Sell After 1 Year):
Shares Bought: 21
Total Stock Cost: $8,886.15
Borrowed Amount: $4,425.15
Interest Paid: $254.45
Total Margin Gain: $1,967.09
LEAPS vs. Margin Comparison:
LEAPS ROI: 144.46%
Margin ROI: 44.10%
LEAPS Gain: $6,444.41
Margin Gain: $1,967.09
LEAPS Gain Advantage: +$4,477.32
LEAPS returned 228% 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.