Asset-or-Nothing Call Option An option payoff that is equal to the asset's price if the asset is above the strike price, otherwise the payoff is zero.

What Does Asset-or-Nothing Put Option Mean? An option payoff that is equal to the asset's price if the asset is below the strike price, otherwise the payoff is zero. binary options put options

What Does Binary Option Mean? A type of option in which the payoff is structured to be either a fixed amount of compensation if the option expires in the money, or nothing at all if the option expires out of the money.

These types of options are different from plain vanilla options binary options 1 or "zero" earn all or loose all.

Also sometimes referred to as "all-or-nothing options" or " digital options".