An option which is the reverse of a dual strike option. The reverse dual strike option has its payoff defined as the highest payoff of two options. These options, of course, have two different underlyings and two strike prices. Therefore, the payoff of a dual strike call, for example, is equal to the maximum between two payoffs: the strike price of the first underlying minus its payoff, or the strike price of the second underlying minus its payoff.
October 31, 2023