underlying asset
The specific security, financial instrument or commodity represented in a derivative. An Option Holder secures the Right to buy or sell the underlying assets when purchasing an option contract. Likewise a futures trader buys and sells contracts promising to take or make delivery of the underlying asset at a future date.
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exercise
Long Leg
futures
option contract
put option (put)
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Timing option
major currency
bid offer spread
purchase and sale agreement
Asymmetric shock