A lookback option on foreign equity reduces the uncertainty of foreign investment by delivering the benefit of hindsight. Despite its high marketability, purchasing the option is stalled due to the failure to meet customized demands. This paper proposes foreign equity lookback options with partial monitoring and floating strike price to control the option premiums. We establish the expected value of the extreme of an underlying process when the specific condition, covering various payoffs of the lookback options, is satisfied. It is exploited to derive the unified closed-form pricing formula. We demonstrate the properties of the option prices through numerical examples.

中文翻译：

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具有部分监控功能的外国股权回顾选项


外国股权的回顾选择通过提供事后诸葛亮的好处来减少外国投资的不确定性。尽管其适销性很高，但由于无法满足定制需求，购买该选项陷入停滞。本文提出采用部分监控和浮动执行价格的外国股权回顾期权来控制期权溢价。当满足特定条件（涵盖回溯选项的各种收益）时，我们确定基础过程的极值的期望值。它被用来推导统一的封闭式定价公式。我们通过数值例子展示了期权价格的属性。