ApexVol Terminal
Options analytics, live.
Chains, IV rank, expected move and dealer positioning for 5,500+ US stocks and ETFs.
Free on AAPL, no account. Trial: no charge if you cancel before it ends.
On this page
What is Stock Replacement?
Stock Replacement Using deep in-the-money call options (high delta, typically 0.80+) to replicate long stock exposure with significantly less capital. The deep ITM call moves nearly dollar-for-dollar with the stock but costs a fraction of the share price, freeing capital for other uses. Risk is limited to the premium paid.
Complete definition
Using deep in-the-money call options (high delta, typically 0.80+) to replicate long stock exposure with significantly less capital. The deep ITM call moves nearly dollar-for-dollar with the stock but costs a fraction of the share price, freeing capital for other uses. Risk is limited to the premium paid.
Example
Instead of buying 100 AAPL at $150 ($15,000), buy a deep ITM $120 call for $33 ($3,300), getting similar exposure with defined risk.
Related terms
ApexVol Terminal
Options analytics, live.
Chains, IV rank, expected move and dealer positioning for 5,500+ US stocks and ETFs.
- Live chains and Greeks
- IV rank and percentile
- Expected move and GEX
- Screener and strategy P&L
Free on AAPL, no account. Trial: no charge if you cancel before it ends.
Try this with real market data. 5,500+ stocks, live options chains, IV analytics and P&L. 7-day free trial.
Keep reading
Where this term
actually shows up.
Know the term.
Now see it priced.
Every definition here is something the Terminal shows you live on a real chain — the Greeks, the surface, the flow. Run it on AAPL without an account.
Real market data, not a sandbox. See it live on AAPL.