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Crack Option

An option that gives the holder the right to exchange a base asset (a crude commodity) for one or two...

Crack Spread

A commodity trading strategy which involves the purchase of crude oil futures and the simultaneous sale of gasoline and heating...

Crack Spread Swap

A commodity swap which allows a refiner to hedge against a narrowing spread between crude oil prices and the prices...

Crack Swap

A commodity swap that calls for the payment of the spread between crude oil and a specific basket of "cracked"...