FA-61477 / Options payoff and settlement / Member archive

Binary option settlement with an at-strike rule: asset-or-nothing pays the strike · case 02

Asset-or-nothing payouts equal the strike instead of the underlying value.

Member previewVariant 2 · 3 implementations · 8 checks per implementation

Case contract

Inputs kind (cash-call, cash-put, asset-call, asset-put), strike, final price and cash amount. Calls are in the money when final > strike, puts when final < strike; at final == strike both pay half. Cash-or-nothing pays the cash amount, asset-or-nothing pays the final price, times the state (1, 0.5 or 0). Round to 6.

Why this case matters

Option expiry, exercise and settlement engines move cash and shares; a wrong branch misstates obligations.

One recorded failure

Sample boundary fixture

This sample comes from the broken implementation of a controlled reproducer.

Boundary fixture	Actual	Expected	Outcome
regression asset-or-nothing unit 1	`105`	`104.5`	Failed

MEMBER ARCHIVE

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