What is an as-you-like option?

The "As-you-like option," also known as the "chooser option," is a flexible option that offers the holder the opportunity to choose, during a pre-determined period, what type of option it will ultimately be (for example, a call or put option). This choice can be made at any point within the option's term, depending on how market conditions develop.

This option offers investors the freedom to adapt their strategy to changing market conditions, allowing them to respond to unforeseen developments. It is an advanced financial instrument that is often used in complex trading strategies.