underlying
/ˌʌndərˈlaɪɪŋ/
adjective
- Being the real or basic cause, reason, or basis of something, often not immediately obvious.
- The doctor treated the symptoms but also looked for the underlying cause of the pain.
- An underlying theme of the novel is the struggle for freedom.
- The company's underlying financial problems were hidden by strong sales.
- Located beneath or below something else.
- We removed the carpet to repair the underlying floorboards.
- The underlying rock layer is made of granite.
- The underlying soil is rich in clay, which affects drainage.
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Antonyms
noun
- Something that serves as a foundation or basis, especially in finance (e.g., an asset on which a derivative is based).
- The underlying in this trade is a basket of tech stocks.
- Investors should study the underlying before buying a futures contract.
- The value of the option depends on the price of the underlying.