Task: Class Definition Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes 'fixed lookback strike expression'?

A. expected value of the underlying asset at maturity calculated as of some date during the lookback period
B. cashflow expression specifying the arguments required to calculate the best projected price at which the lookback option may be exercised
C. cashflow expression specifying the arguments required to calculate the fixed price at which the lookback option is to be exercised
D. financial instrument classifier that classifies Asian options based on whether they are rate-based or price based

Answer: cashflow expression specifying the arguments required to calculate the fixed price at which the lookback option is to be exercised