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Chooser Option

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chooser option
An option that permits the owner to choose whether to use the security as a put or a call after the option is purchased. The exercise price and expiration date are specified at the time of purchase.
Chooser Option
An option contract in which the option holder may choose at some point during the life whether the option is a call or a put. This allows the option holder the greatest possible leeway depending on price movements in the underlying asset. A chooser option sets the expiration date and the strike at the time it is entered. See also: Exotic option.


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