The Montreal Exchange (ME) (m-x.ca) is the premier venue for trading options in the Canada. The ME provides one of the best educational links to understand both the valuation of options, and the institutional details such as trading practices. Click on the ME link below to take a self-paced tutorial in options pricing and trading. m-x.ca/educ_oic_en.php When you are done with the tutorial, go back to the ME site and find and describe securities called Long Term Options (optionseducation.org/getting_started/options_overview/leaps.html?prt=mx). Note that the United States derivatives exchange, the counterpart of the ME, is the Chicago Board of Options Exchange (cboe.com).