Fugit Definition
noun
(finance) The optimal date to exercise an American option (a Bermudan option).
Wiktionary
Other Word Forms of Fugit
Noun
Singular:
fugit
Plural:
fugitsOrigin of Fugit
First introduced by Mark Garman in an article Semper tempus fugit published in 1989 by Risk Publications, this name was designed to represent a quantity used in binomial trees to estimate american options. the latin term "tempus fugit" means "time flies" and Mark Garman suggested to use that word because "time flies especially when you're having fun managing your book of American options"
From Wiktionary
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