HIGH-LOW OPTION
\hˈa͡ɪlˈə͡ʊ ˈɒpʃən], \hˈaɪlˈəʊ ˈɒpʃən], \h_ˈaɪ_l_ˈəʊ ˈɒ_p_ʃ_ə_n]\
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An OVERTHECOUNTER COMPLEX OPTION that grants the buyer a payoff based on the difference between the high and low prices achieved by the UNDERLYING reference ASSET during the life of the transaction. See also CALLON THE MAXIMUM, PUT ON THE MINIMUM.
By Henry Campbell Black
