Partial Lookback Warrant or Option

A warrant or option that provides a time window of, say, 30 to 90 days, during which the strike price is set or reset at the most favorable level during that period. After that period, the option is an ordinary American-style option. Because the lookback characteristic covers a limited time, the partial lookback option will sell for a price intermediate between a traditional option and a full lookback option. A call warrant of this general type is occasionally called an anti-crash warrant because the reset allows the holder to obtain a lower strike if a crash occurs during the lookback period. Also called Anti-Crash Warrant. See also Lookback Currency Option (diagram), Lookback Strike Option (diagram), Reset Option or Warrant (diagram), Step-Down Option or Warrant.

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