A general cap/floor straddle is the same as a Cap/Floor Straddle Strategy except that in a general cap/floor straddle there is no dependency between the reference rate, the fixing frequency and the frequency of payment dates.
For example in a general cap/floor straddle, you can select the floating rate to be based on the 1 month libor, and select to take fixings quarterly. In a vanilla cap/floor straddle, if you select the floating rate to be based on the 1 month libor, the fixings would have to be taken monthly.
Pricing a General Cap/Floor Straddle in SDX Interest Rates
When pricing a general cap/floor straddle in SDX Interest Rates:
The premium, which is expressed as a percentage of the notional, is usually paid upfront. However, it can also be paid in installments over the life of the general cap/floor strategy.
The upfront payment to be made for a general cap/floor strategy is shown in the Market Price result. The Amortize premium result shows the annual periodic payment that would be paid if the general cap/floor strategy was bought in installments.
By default the Amortize premium result is not displayed. You can choose to display it in the Settings window. For more information see Displaying the Cap/Floor Premium as an Amortized Value
A general cap/floor straddle is priced as a variation of a general cap/floor.
To price a general cap/floor straddle:
From the Option/Swap dropdown list from the Cap/Floor list select General Cap/Floor and then toggle the button to Straddle.