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Long Range Forward Contract

A range forward contract which involves taking two opposite option positions on the same underlying. For example, a firm expects...

Lookback Straddle

An option in which the holder has the right to receive a payoff reflected in a range, or the difference...

Lookback Swap

An interest rate swap in which the holder pays the highest floating rate setting during the reset window and receives...

Lookalike Option

An over-the-counter option that is cash-settled based on the settlement price of a similar exchange-traded futures contract on a certain...

Lookalike Swap

An over-the-counter (OTC) swap that is cash-settled based on the settlement price of a similar exchange-traded futures contract on a...

Long Put Strip

An option trading strategy which is constructed by buying from three and up to eight put options. In this strategy,...

Low Outlay Geared Option

A low premium option (specifically a put) which allows the holder to participate in an upside movement with a gradually...

Long-Dated Option

An option which expires after more than a year (e.g. 1, 2 or 3 years). Traders buy long-dated options with...

Long-Dated Swap

A long-term swap agreement between two parties to exchange two different sets of cash flows for a minimum of time...

Log Contract

An exotic option (specifically a single-payout option) that makes payments based on the logarithm of the price of its underlying...