Multiple Choice
A cliquet is analogous to
A) A portfolio of vanilla options,all at-the-money today,and expiring on the reset dates of the cliquet.
B) A portfolio of digital options,with one option coming to life at each reset date and expiring at the next reset date.
C) A portfolio of forward-starts,with one option coming to life at each reset date and expiring at the next reset date.
D) A portfolio of exchange options,with one option coming to life at each reset date and expiring at the next reset date.
Correct Answer:
Verified
Correct Answer:
Verified
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