To install click the Add extension button. That's it.

The source code for the WIKI 2 extension is being checked by specialists of the Mozilla Foundation, Google, and Apple. You could also do it yourself at any point in time.

Kelly Slayton
Congratulations on this excellent venture… what a great idea!
Alexander Grigorievskiy
I use WIKI 2 every day and almost forgot how the original Wikipedia looks like.
Live Statistics
English Articles
Improved in 24 Hours
Added in 24 Hours
Show all languages
What we do. Every page goes through several hundred of perfecting techniques; in live mode. Quite the same Wikipedia. Just better.

Cliquet option

From Wikipedia, the free encyclopedia

A cliquet option or ratchet option is an exotic option consisting of a series of consecutive forward start options.[1] The first is active immediately. The second becomes active when the first expires, etc. Each option is struck at-the-money when it becomes active.[2]

A cliquet is, therefore, a series of at-the-money options but where the total premium is determined in advance. A cliquet can be thought of as a series of "pre-purchased" at-the-money options. The payout on each option can either be paid at the final maturity, or at the end of each reset period.[3]


  • A three-year cliquet with reset dates each year would have three payoffs. The first would pay off at the end of the first year and has the same payoff as a normal ATM option.
  • The second year's payoff has the same payoff as a two-year option, but with the strike price equal to the stock price at the end of the first year.
  • The third year's payoff has the same payoff as a three-year option, but with the strike price equal to the stock price at the end of the second year.


  1. ^ "". Retrieved 24 September 2017.
  2. ^ "". Retrieved 24 September 2017.
  3. ^ FiNCAD - Cliquet options]

External links

This page was last edited on 24 September 2017, at 00:50
Basis of this page is in Wikipedia. Text is available under the CC BY-SA 3.0 Unported License. Non-text media are available under their specified licenses. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc. WIKI 2 is an independent company and has no affiliation with Wikimedia Foundation.