## FX Option

**is a direct subtype of Vanilla Option with functions FX Option Functions, keys FX Option keys and example object FXOpt that represents a specialization where the underlying is the Quote_Ccy associated with a given FX object.**

*FX Option*The option is exercised by paying

**units of the Base Ccy, where**

*x***is a given strike.**

*x*For example, a european call option on EUR/USD with a strike of 1.30 would expire worthless if EUR/USD is less than 1.30 and would translate into a profit of .10 USD if EUR/USD reaches 1.40 at expiry.

Note the above option is simultaneously a put option on USD/EUR with a strike of 1/1.30.

The pricing methodology is specified in Model[Vanilla Option]