Absolutely, longer term call options or LEAPS are an attractive way to limit risk without having to buy the stock and place a stop loss order. Too often, stop losses get triggered due to market volatility, when in fact you only want to be protected against a calamitous fall in the stock. LEAPS can limit the downside risk while providing upside capture, so long as the time premium paid is not too high. Certainly worth considering for any investor.