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swaption

swaption  n.— «“Another thing the county can do which the typical homeowner cannot is change interest rates without repaying the debt and taking out a new loan. This is done through what is sometimes called a swap.” Lancaster County...

Kelly day

Kelly day  n.— «Also, anyone paying 15 percent of their health insurance will get an additional “Kelly Day,” the term for an extra day off a firefighter has the option to take or work for time and a half.» —“Firefighters...

poison put

poison put  n.— «In December 1995, following several quarters of weak sales, Kmart Corp. came on the brink of a bankruptcy filing: Their problems stemmed from the possible exercise of $550 million of poison put bonds outstanding, which...

grow teeth

grow teeth  v. phr.— «A mysterious Taiwanese-born floor trader, Hwalin Lee, singlehandedly cost another CBOE clearing firm more than $50 million in a huge short position in S&P 100 puts that exploded into the money even before Oct. 19...