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Vanna

The sensitivity of vega (kappa) to a change in the underlying price of an option contract. That is, it is...

Back Spread

A delta-neutral ratio spread, or a reverse option hedge, whereby the number of options bought exceeds that of the options...

Bear Ratio Spread

A variant on a bear put spread, and a strategy similar to the bull ratio spread in almost all aspects...

Bear Market

A market where prices are decreasing or expected to be decreasing or following a declining trend over a period of...

Credit Spread Option

An option whose payoff depends on the spread between the yields earned on two underlying assets. For example, this option...

Credit Default Spread

The spread that is attributed to the credit risk associated with a defaultable instrument (e.g., a credit default swap or...

Credit Spread

The spread that is attributed to the credit risk associated with a defaultable instrument (e.g., a credit default swap or...

Credit Risk Spread

The spread that is attributed to the credit risk associated with a defaultable instrument (e.g., a credit default swap or...

American Option

An option that can be exercised at any time before, and including, expiration date. This type of options provides investors...

FX Collar

Foreign exchange collar; an option-based strategy which is established by purchasing a European-style option (the cap) and selling of another...