Front Fee
[概述]Thepremiumchargedupontheinitialpurchaseofacompoundoption.Inotherwords,thefrontfeeiswhatitcoststoacquireacompoundoption.I
Adjusted Exercise Price
[概述]1.Anoption'sstrikepriceafteradjustmentshavebeenmadeforstocksplitstoitsunderlyingsecurity.2.Atermusedtodescribethestrikep
Call Over
[概述]Whenthebuyerofacalloptionexercisestheoption.Inoptionstrading,thebuyerofacalloptioncanexercisehisorherrighttopurchaseorse
Exotic Option
[概述]奇異期權（ExoticOptions） 比常規期權(標準的歐式或美式期權)更復雜的衍生證券，這些產品通常是場外交易或嵌入結構債券。比如執行價格不是一個確定的數，而是一段時間內的平均資產價格的期權，或是在期權有效期內如果資產價格超過一定界限
Sum Certain
[概述]Alegaldescriptionofthepredeterminedsettlementpriceforacontractornegotiableinstrument.Thistermreferstothestatedfinalpayme
Listed Option
[概述]Anoptionthatissoldonaregisteredexchange,suchastheChicagoBoardOptionsExchange(CBOE)orEuronext.Listedoptionscoversecuritie
Volatility Skew
[概述]Thedifferenceinimpliedvolatility(IV)betweenout-of-the-money,at-the-moneyandin-the-moneyoptions.Volatilityskew,whichisaff
Seagull Option
[概述]Athree-leggedoptionstrategy,oftenusedinforextrading,thatcanprovideahedgeagainsttheundesiredmovementofanunderlyingasset.A
Short Straddle
[概述]Anoptionsstrategycarriedoutbyholdingashortpositioninbothacallandaputthathavethesamestrikepriceandexpirationdate.Themaxim
Gut Spread
[概述]Anoptionstrategycreatedbysellinganin-the-moneyputatthesametimeasanin-the-moneycall.Byenteringintothisposition,theinvesto
Bullet Trade
[概述]Theactofpurchasingan"inthemoney"putoptionsothatthebuyercancapitalizeonabearmarketbyeffectivelyshortingastockwithoutwaiti
Breakeven Point - BEP
[概述]1.Ingeneral,thepointatwhichgainsequallosses.2.Inoptions,themarketpricethatastockmustreachforoptionbuyerstoavoidalossifth
VIX - CBOE Volatility Index
[概述]ThetickersymbolfortheChicagoBoardOptionsExchange(CBOE)VolatilityIndex,whichshowsthemarket'sexpectationof30-dayvolatility
Spread Option
[概述]Atypeofoptionthatderivesitsvaluefromthedifferencebetweenthepricesoftwoormoreassets.Spreadoptionscanbewrittenonalltypesof
Exercise Backdating
[概述]Apracticewhereoptionholdersfraudulentlyclaimtohaveexercisedtheircalloptionsataspecifictimeinthepast,whereinreality,theop
Color
[概述]Therateatwhichthegammaofanoptionorwarrantwillchangeovertime.Morespecifically,itisthethirdorderderivativeofanoptionsvalue
Dealer Option
[概述]Anoptioncreateduponphysicalcommodities,outsideofregularexchangeregulations.Theseoptionsaretypicallywrittenbyfirmssuchasc
Roll Back
[概述]Whenaninvestorreplacesanoldoptionspositionwithnewonehavinganearlierexpirationdate(andthesamestrikeprice).Thisissometimes
Put Ratio Backspread
[概述]Aninvestmentstrategythatcombinesoptionstocreateaspreadwhichhaslimitedlosspotentialandamixedprofitpotential.It'screatedby
Zero Cost Strategy
[概述]Atradingorbusinessdecisionthatdoesnotentailanyexpenseuponexecution.Zero-costtradingstrategiescanbeusedwithavarietyofinve
In The Money
[概述]1.Foracalloption,whentheoption'sstrikepriceisbelowthemarketpriceoftheunderlyingasset.2.Foraputoption,whenthestrikepricei
Overhang
[概述]Ameasureofthepotentialdilutiontowhichacommonstock'sexistingshareholdersareexposedduetothepotentialthatstock-basedcompens
Seller
[概述]1.Anindividualorentitythatexchangesanytypeofgoodorserviceinreturnforpayment.2.Intheoptionmarket,theselleristheinvestorwh
Pin Risk
[概述]Ariskthatthewriterofanoptionsorfuturescontractfaceswhenthepriceoftheunderlyingassetclosesatorveryneartheexercisepriceoft
Inverted Market
[概述]Inthecontextofoptionsandfutures,thisiswhenthecurrent(orshort-term)contractpricesarehigherthanthelong-termcontracts.Thisu
Series 4
[概述]Asecuritieslicenseentitlingtheholdertosuperviseoptionssalespersonnelandcomplianceissues.BeforetakingtheSeries4exam,youmu
SPAN Margin
[概述]Shortforstandardizedportfolioanalysisofrisk(SPAN).Thisisaleadingmarginsystem,whichhasbeenadoptedbymostoptionsandfuturese
Period Certain
[概述]Anannuitization-methodoptionwithwhichtheannuitantselectsaspecifictimeperiodforwhichtheannuityincomepaymentswilllast.This
Debit Spread
[概述]Twooptionswithdifferentmarketpricesthataninvestortradesonthesameunderlyingsecurity.Thehigherpricedoptionispurchasedandth
Asian Option
[概述]Anoptionwhosepayoffdependsontheaveragepriceoftheunderlyingassetoveracertainperiodoftimeasopposedtoatmaturity.Alsoknownas
Vega
[概述]Theamountthatthepriceofanoptionchangescomparedtoa1%changeinvolatility.Vegachangeswhentherearelargepricemovementsintheund
Local Volatility
[概述]Amodelusedinquantitativefinancetocalculatetheunpredictabilityoftheunderlyingcurrentassetofafinancialderivative.Becauseof
Agreement Value Method
[概述]ThemostcommonofthreeofficialmethodsestablishedbytheInternationalSwapsandDerivativesAssociationforcalculatingterminationp
Warrant
[概述]Aderivativesecuritythatgivestheholdertherighttopurchasesecurities(usuallyequity)fromtheissuerataspecificpricewithinacert
International Monetary Market - IMM
[概述]AdivisionoftheChicagoMercantileExchange(CME)thatdealswiththetradingofcurrencyandinterestratefuturesandoptions.Tradingont
Exercise Price
[概述]Thepriceatwhichtheunderlyingsecuritycanbepurchased(calloption)orsold(putoption).Theexercisepriceisdeterminedatthetimethe
American Option
[概述]美式期權(AmericanOption)Anoptionthatcanbeexercisedanytimeduringitslife.Themajorityofexchange-tradedoptionsareAmerican.Sincei
Straddle
[概述]Anoptionsstrategywithwhichtheinvestorholdsapositioninbothacallandputwiththesamestrikepriceandexpirationdate.Straddlesare
Out Of The Money - OTM
[概述]1.Foracall,whenanoption'sstrikepriceishigherthanthemarketpriceoftheunderlyingasset.2.Foraput,whenthestrikepriceisbelowth
Lapse
[概述]Thecessationofaprivilege,rightorpolicyduetotimeorinaction.Alapseofaprivilegeduetoinactionoccurswhenthepartythatistorecei