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Chooser option
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Chooser option : ウィキペディア英語版
Chooser option
In finance, a chooser option is a special type of option contract. It gives the purchaser a fixed period of time to decide whether the derivative will be a European call or put option.
In more detail, a chooser option has a specified decision time t_1 , where the buyer has to make the decision described above. Finally, at the expiration time t_2 the option expires. If the buyer has chosen that it should be a call option, the payout is max(S-K,0) . For the choice of a put option, the payout is max(K-S,0) . Here K is the strike price of the option and S is the stock price at expiry.
== Replication ==
For stocks without dividend, the chooser option can be replicated using one call option with strike price K and expiration time t_2 , and one put option with strike price K e^ and expiration time t_1 ;.〔Yue-Kuen Kwok, Compound options〕

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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