Hybrid Security

See: Security.

A security is a representation of value held elsewhere. A share of Apple represents something like one billionth ownership in the company. So a hybrid version might be a derivative of a security, like a call option to buy a share of Apple for $250 any time in the next year.

The key with any hybrid: read the fine print. They're weird. They're non-standard. They're often unregulated. They march to the beat of their own drum. And they have pretty good rhythm.