# Value at expiry of a lookback call option with variable strike

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## Description

Formula for the calculation of the value at expiry of a lookback call option with a variable strike

## Formula

$LC_{var}=max\left ( S_{T}-S_{min},0 \right ) \$

## Legend

 $S_{min}\$ Mimimum price of the underlying during the option's lifetime $S_{T}\$ Price of the underlying at expiry date T of the option