Indexed options work similarly to traditional stock options, with one exception: Rather than having the exercise price fixed at the market price on the date of grant, the exercise price varies based on the change in an appropriate stock market index, e.g.

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In the spring of 2012, he signed a long-term contract, albeit one that included a "release clause, " a fixed price for which the club would have to sell him.

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The gold exchange aspect of the BWS was one way, foreign members could exchange their dollar for gold (at a fixed price) but not the other way around.

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"It is worth pointing out that one in five of our customers are already on competitive fixed priced tariffs and will not be affected by these price changes this winter, " he said.

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With only one mill buying from each region, millers say farmers may be persuaded to sell below the state-fixed price.

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