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

## Description

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

## Formula

\[ LP_{var}=max\left ( S_{max}-S_{T},0 \right ) \ \]

## Legend

\(S_{max}\ \) | Maximum price of the underlying during the option's lifetime |

\(S_{T}\ \) | Price of the underlying at expiry date T of the option |

## Additional information related to this formula

### Related definitions:

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