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Basket options |
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Basket options Packages that involve the exchange of more than two currencies against a base currency at expiration. The basket option buyer purchases the right, but not the obligation, to receive designated currencies in exchange for a base currency, either at the prevailing foreign exchange market rate or at a prearranged rate of exchange. Multinational corporations with multicurrency cash flows frequently use basket options because it is generally cheaper to buy an option on a basket of currencies than to buy individual options on each of the currencies that make up the basket. |
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The sauces are sold in individual 16-ounce jars, but the company also offers food service sizes for restaurants and some impressive gift basket options for special occasions. Her idea of plain vanilla includes complicated multi-currency basket options whose price depends on volatilities and correlations of all the currencies in the basket, and other financial engineering inventions that look plain only to quants comfortable with long equations full of Greek letters. Future targeted enhancements will include additional models such as pre-paid forwards, basket options, and variance swaps. |
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