underlying
B1CEFR level
35/100Rarity: fairly common
TechnicalRegister
The asset, rate, or index from which a derivative draws its value.
When the underlying gapped down at the open, every option written against it repriced instantly.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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