1, option c stands for call option, and c is the initial letter of call option; P stands for put option, and p is the initials of pull. Call option is also called call option, which is the right to buy the underlying assets at the agreed price, while put option is also called put option, which is the right to sell the underlying assets at the agreed price.

2. Call option and put option represent two basic rights types of options. In actual trading, we can buy and sell call options and put options respectively, so there are four opening directions, namely, buying call options, buying put options, selling call options and selling put options.

3. Some basic information of options, such as C and P, can be known from the contract code, so how to treat the contract code of options? Take the option contract of au2 104C464 as an example, where au stands for gold, 2 104 stands for option expiration date of 202 1, c stands for call option, and 464 stands for option exercise price.

Brief introduction of special options:

1. The final return of the standard European option only depends on the original asset price on the maturity date. Path-dependent option is a special option, and its final income is related to the change of the original asset price within the validity period of the option. Path-related options can be divided into two categories according to the dependence of their final income on the original asset price path: one is that their final income is related to whether the original asset price reaches a certain or several agreed levels within the validity period, which is called weak path-related options; The final return of another option depends on the price information of the original asset during the whole option validity period, which is called strong path-related option. One of the most typical weak path-related options is the obstacle option. Strictly speaking, American option is also a weak path-related option.

2. There are two kinds of strong path-related options: Asian option and lookback option. The return of Asian options on the maturity date depends on the average price of the original assets during the whole option validity period. Because of the different meanings of the average, it can be divided into arithmetic average Asian options and geometric average Asian options. The final income of the put option depends on the maximum (minimum) value of the original asset price within the validity period, and the holder can "look back" the whole price evolution process and choose its maximum (minimum) value as the final price.