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Systematic and Automated Option Trading (Collection) by Sergey Izraylevich, Ph.D., Vadim Tsudikman

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appendix. Basic Notions

Definition of Terms

American option. A type of option contract that gives its buyer the right to buy or sell the underlying asset at any time point until the expiration date.

Call option. A standard contract, which gives its buyer the right (without imposing any obligations) to buy a certain underlying asset at a specific point of time in the future (see expiration date) for a fixed price (see strike price).

Combination. Any number of different options corresponding to the same underlying asset can be considered and analyzed as a whole entity. Options comprising a combination may be long (bought) and/or short (sold) and may have the same or different expiration dates and strike prices.

Delta. The first partial derivative ...

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