Flt Strike

Subtype of Lookback Type

The effective strike is set to the "optimum" underlying price that is realised during the defined time interval of observation.
The definition of "optimum" depends on whether the option is a call or a put. In a call option, it means the so far realized minimum underlying price, otherwise the maximum.
Partial floating strike lookback options are also supported, in that the observation period may end before the option expiry.