Extendible Forward
Extendibility is a feature that can be added to any strate
Payoff Diagram:

Payoff at Expiry:
At expiry if EURUSD fixes:
Above the Strike, the client is fully protected at the Strike on 100% of the Notional.
Below the Strike, the client will find itself obligated to trade at the Strike level on 100% of the Notional.
On the Extension Test Date, if EURUSD is below the Extension Test Rate, the strategy will continue for a second period (the "Extension Period"); otherwise, it will not and the client will be unhedged for that second period.
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