The series of options described in the question is known as a Cliquet option. A Cliquet option is an exotic option that consists of a series of consecutive forward start options. The first option in the series is active immediately, and the subsequent options become active as the previous one expires. Each option is struck at the money when it becomes active. This means that the strike price of each option is equal to the market price of the underlying asset at the time the option becomes active. This type of option allows investors to lock in gains periodically, providing protection against significant market downturns. However, it also limits the potential upside if the market performs exceptionally well. The Cliquet option is particularly useful in volatile markets, where the price of the underlying asset is expected to fluctuate significantly over the life of the option series.

Choice B is incorrect. A Gap option is a type of exotic option where the payoff depends on the difference between the asset price at the time of exercise and a reference price, which could be either the price at which it was bought or another specified price. This does not match with Gabriela's strategy where each new option starts as soon as the previous one expires.

Choice C is incorrect. A Forward start option is an options contract that begins at a predetermined date in the future. The strike price of this type of options contract is determined after its inception, typically based on prevailing market prices at that time. While Gabriela's strategy involves starting new options after previous ones expire, it doesn't involve pre-determining future dates for these options to start.