Tapos

Short for Traded Average Price Options. An LME instrument basically structured like an Asian option where the strike price is an LME monthly average. This matches period pricing contracts where the reference price is the monthly average. Tapos are automatically exercised if in the money by the issue of a corresponding LME futures contract. See also...
Found on http://www.metalbulletin.com/Glossary.html

Tapos

Short for Traded Average Price Options. An LME instrument basically structured like an Asian option where the strike price is an LME monthly average. This matches period pricing contracts where the reference price is the monthly average. Tapos are automatically exercised if in the money by the issue of a corresponding LME futures contract. See also...
Found on http://www.metalbulletin.com/Glossary.html
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