A call or put option based on a stock market index. Bloomberg Financial Dictionary
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index option UK US noun [C] ( also stock-index option)
► FINANCE an investment based on the value of a stock index (= a set of shares that shows the value of a stock market). The investor buys the right to buy or sell that index at a particular price by a date in the future: »
S&P 500 Index Options
»The fund invested in equity index options.
Financial and business terms. 2012.