FLEX OPTION

flex option: translation

Non-standard option in which the buyer and seller can agree to terms where the strike price may exceed the eligible range of standard strikes, the expiration date can be any business date other than the standard expiration date, or the option can be defined to expire as "American" or "European" style and the option can have any listed futures as its underlying. Chicago Mercantile Exchange Glossary

FLEX option: translation

flexible exchange ( FLEX) option

A semi-customised, exchange-traded put or call option issued by a clearing house. Customisation is limited to expiration date, strike and exercise style (European or American). Exchange Handbook Glossary