Asset 1: Asset or Nothing Call option. Formula: H1 = S12 * heavy (S12 - X) X = 1.1

Asset 2: Cash or Nothing Put option

Similar to the case with the Asset or Nothing Put option, the Asset or Nothing Call option's financially equivalent counterpart does not resemble the original shape. The shape of the original payoff does somewhat resemble a Gap option Call. However, the payoff on Asset 1 in terms of Asset 2, as produced by PAT, obviously does not match the foreign counterpart of a Gap option Call. In this case, the foreign financially equivalent counterpart has the shape of a Cash or Nothing Put option.