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Binary Options: Fixed Odds Financial Bets by Hamish Raw

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8. Eachway Rangebets

8.0 Introduction

The eachway rangebet is an extension of the rangebet with two extra strikes and another level of settlement price. If the underlying finishes between the centre two strikes at the bet’s expiry then the bet’s settlement price is 100. If the underlying finishes outside the centre two strikes but inside the outer strikes then the bet settles at, say 40. If the underlying is outside the outer strikes the bet settles at zero.

8.1 Price Specification

Random walks are again used to determine winners and losers and in Fig 8.1.1 the bettor speculates whether the underlying will be within the $98.5/$101.5 rangebet or the $99.5/$100.5 rangebet at expiry. The settlement prices are 100:40:0.

1. RW1 oscillates ...

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