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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Turkey now relies on Russia for two-thirds of its energy needs but as a result has leverage on Russian options that help protect it.
The tea section alone had its own huge menu with a bewildering choice from Russian options to Darjeeling.
In the following pages, we analyze three possible ways for Washington and its allies to deal with the Russian options as outlined above, in each case considering the likely advantages and disadvantages.
Russian options envisaged by Nicosia include granting further rights over Cypriot gas deposits, selling off the Laiki Bank to private investors and talks to extend the maturity of a 2.5 billion government loan from 2016 to 2021 and lower the interest rate attached to it.
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.
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