These types of options don't function like regular (plain vanilla) options that pay the difference between the exercise (strike) price and market price at expiry. Asset-or-Nothing Put Option An option payoff that is equal to the asset's price if the asset is below the strike price, otherwise the payoff is zero.
These types of options don't function like regular (plain vanilla) options that pay the difference between the exercise (strike) price and market price at expiry.