Seagull

The seagull is comprised of a risk reversal plus an additional option.

SEC

SEC is the Securities and Exchange Commission.

Settlement date

See delivery date.

Short

If you are short, you have sold more of an asset than you own.

Single expiry digital

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Single expiry digital range

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Snowball

A snowball is both a generic term for an entire family of structured products as well as the name for one particular member of that family.

Speculation

Speculation involves buying, holding, and selling assets...

Spot date

The spot date is the delivery date for immediate delivery.

Spot EQ

A spot instrument lets you take a position in a stock, index or ETF (exchange-traded fund).

Spot hedge

A spot hedge is a spot trade executed immediately after an option has been traded.

Spot premium

If an instrument has a spot premium, the premium will be paid on the spot date...

Spot rate

The spot rate is the current price at which an asset can be bought or sold for immediate delivery.

Spread - bid-ask

See bid/ask spread.

Spread option in EQ

A spread option is an option in which the payout is based on the difference in performance between two assets.

Spread option overview

A spread is normally the purchase of one option and the simultaneous sale of a related option.

Static hedge

A static hedge is a one-time fixed strategy created to hedge an existing option or position.

Stealth

Measures the difference between the strike price and the barrier.

Step premium

The step premium option is a vanilla option where...

Straddle

A straddle is a vanilla strategy. It can be...

Strangle

A strangle is a vanilla strategy. It can be...

Strike

The strike (or exercise price) is the price at which the option holder has the right to buy...

Structured products

Structured products are synthetic investment instruments specially created to meet needs that cannot be met from the financial instruments available in the markets.

Swaps overview

A swap is an OTC derivative which involves the exchange of cash payment streams between two counterparties...

Swaption

A swaption gives its owner the right but not the obligation to enter into an interest rate swap...

Swaption strategies

You can select one of the following predefined strategies, each of which uses payer and receiver swaptions to build the required strategy...