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Out Option
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An option with an expiration price as well as an expiration date. The option contract expires or pays off (depending on specific contract terms) if the underlying trades at or through the outstrike price. In the case of a down-and- out call, for example, the option expires immediately if the underlying touches the outstrike before the stated expiration date. Also called Over-and-Out Option, Special Expiration Price Option, Up-And-Away Option (2), Up-And- Out Call, Vanishing Option, Extinguishable or Extinguishing Option, Kick-Out Option, Knock-Out Option, Down-And-Out Put (diagram), Down-And-Out Call. See also Exploding Option, Path-Dependent Option, Barrier Option, Touch Option.
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Glossary *
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