Fxd Strike

Subtype of Lookback Type

The underlying price in the regular option payoff formula is replaced with 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 maximum underlying price, otherwise the minimum.
Partial fixed strike lookback options are also supported, in that the observation period may start in the future.