Futures (Cedar Falls, Iowa), March 1st, 2000
Lookback options allow traders a much sought-after commodity: hindsight. Understanding what these instruments are and how the pros trade them will give the uninitiated and retail speculators more insight into movements in exchange-traded instruments.
Editor's note: Cash market derivatives, including so-called exotic options, already dominate risk management in a number of markets. Traders of these instruments use exchange-traded contracts to manage residual risks in their portfolios. Given the size of their trades and the correlation of many large fund positions, these activities can produc...
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