Asset 1: Cash or Nothing Put Option. Formula: H1 = V * heavy (X - S12) X = 1.2; V = 0.8

Asset 2: Asset or Nothing Call

As was the case with Asset or Nothing options, a Cash or Nothing Call's financially equivalent payoff on the opposite side of the market does not resemble that of the original option. In the case of the Asset or Nothing Call we saw that the financially equivalent counterpart had the shape of a Cash or Nothing Put option, so it is logical to expect a Cash or Nothing Put option's financially equivalent payoff on the opposite side of the market to have the shape of an Asset or Nothing Call option.