abandon

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Abandon

1. To decide not to exercise an option. This occurs when an option is out-of-the-money on the exercise date. That is, one may abandon an option if it is currently unprofitable and thus highly unlikely to become profitable.

2. To withdraw one's claim to an asset, especially an unprofitable one. Corporations must file appropriate paperwork with the government to abandon assets. Alternatively, an individual may abandon both real and personal property. For example, a homeowner may leave his/her house and never intend to return. A squatter may then come to possess the home through adverse possession. An important component of abandonment is the owner's intent never to return or otherwise possess the property again.

3. To opt out of a forward contract according to the procedure specified therein. When one abandons a forward contract, one does not buy or sell the underlying asset and it is not delivered.

abandon

To elect not to exercise an option.
References in periodicals archive ?
He noted that all the various subsidiaries of the Company were very interested in working with NIMASA on adopting innovative and technologically driven methods to help quickly and in an environmentally sound way to get rid of the hundred of derelicts and abandoned ships dotting the Nigerian waterways.
Summary: High level meeting discusses cooperation in handling pollution and abandoned ships
Sharjah: The Ministry of Climate Change and Environment (MOCCAE) and Sharjah Police General Directorate held a meeting to explore the means of enhancing cooperation to counter marine pollution and handling abandoned ships.
They discussed ways of handling abandoned ships and reviewed the relevant federal laws as well as regional and global agreements regulating maritime navigation and vessel traffic, including technical and legal frameworks, navigation rules, and regulations to preserve marine and coastal environments.
Ashleigh Aiston TOP TREND: Three abandoned ships off the coast of Tynemouth have shown no sign of leaving soon.
"We've handled two main cases in four abandoned ships over the last several weeks.
More clean-up work needs to be done in the same sea area, he said, indicating that abandoned ships should be removed from these locations.
Without the steelworks the houses, church and town looked like abandoned ships on a empty beach, whose purpose, had ceased to have meaning.
While 17 ships were removed in 2010, six abandoned ships were removed in 2011 and another ten in 2012.
"The process also included communication with the owners of the abandoned ships for their safe removal and treatment of damages.