Russian Option

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Russian Option

An option giving the holder the right but not the obligation to buy (for a call) or to sell (for a put) the underlying asset at the best price that occurs between the start of the option and the time it is exercised. What distinguishes a Russian option is the fact that there is no expiration date. The holder can wait indefinitely for an advantageous price and exercise the option. It is a type of lookback option.
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For years, ex-President Edouard Shevardnadze played both sides of the fence, happily accepting more than $1 billion in American aid--only second per capita behind the state of Israel--while keeping his Russian options open.
Following the success we had after adding St Petersburg to our programme, we were very keen to offer more Russian options for the new year,' says Thomson's Sarah Lax.
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