## Floating

Subtype of Payoff TypeIn the call case the payoff equals the referenced variable

**.**

*x*In the put case the payoff equals minus the referenced variable

**.**

*x*The formal definition is as follows:

**is transformed into**

*x***where**

*εx***can take only the values**

*ε***or**

*1***and corresponds to a payoff attribute called Direction**

*-1*