Value date

See delivery date.

Value in 25d butterfly

This value provides an indication of...

Value in 25d risk reversal

This value provides an indication of...

Vanilla option

The vanilla option is the simplest type of option, with a fixed strike, expiry date and notional amount.

Vanilla strategy

A vanilla strategy is a combination of two of the four basic vanilla options...

Vanilla strip

A strip lets you duplicate a series of vanilla options...

Vanilla swap

A vanilla or interest rate swap (IRS) lets you swap the interest rate basis of an asset or liability...

Variance

Variance is the mathematical square of volatility.

Variance swap

The variance swap is a forward contract in which...

Vega

Vega displays the percentage change in the option's value...

Vega neutral

This refers to an option or portfolio...

Volatility

Volatility denotes the extent to which the underlying is expected to fluctuate in a given time period.

Volatility smile

The volatility smile is the graphical shape that...

Volatility surface

The volatility surface is a three-dimensional graph indicating...

Volatility swap in EQ

Like the variance swap already supported in SD-EQ, the volatility swap allows investors to take views on the future realized volatility directly.

Volatility swap in FX

A volatility swap lets investors take views on the future realized volatility...