Types of option more complex than the simple and common European, American and Asian varieties.... more on: Exotic options

Term used to describe any non-standard (European or American) option. Exotic options are written over-the-counter (OTC), meaning that a broker usually brings together both sides of the contract and constructs a product that meets his client's needs. These options can be digitals, quantos, spread options, lookback options, Asian options, barrier options, etc.

Generic term for the more sophisticated option strategies which have features over and above the basic contracts.