Definitions for "ratio spread"
An options strategy using either puts or calls, in which one buys some options and then sells a different amount of options.
A term most commonly used to describe the purchase of an option(s), call or put, and the writing of a greater number of the same type of options that are out-of-the-money with respect to those purchased. All options involved have the same expiration date. For example, buying 5 XYZ May 60 calls and writing 6 XYZ May 65 calls. See also Ratio write
Holding an unequal amount of long and short options positions. Two short, and one long is a popular ratio spread strategy.
Keywords:  forward, roll, down
roll down roll forward