Alpha

Key Alpha in Payoff refers to the constant number α used in the payoff formula max{ ε(βx-λK^1-αx^α) , 0 } associated with Payoff Type = RSO
Defining the exercise price as the quantity K^1-αx^α, this parameter is an index of exercise price uncertainty.
As α tends to 0 the exercise price approaches the constant K producing the Black Scholes world.
As α tends to 1 the exercise price approaches x
Intermediate values of α turn the exercise price into an averaging function of K and x.
In particular, when α equals .5 the exercise price becomes (Kx)^½ that represents the geometric average of K and x.