Asian Option

In finance, the style or family of an option is a general term denoting the class into which the option falls, usually defined by the dates on which the option may be exercised. The vast majority of options are either European or American (style) options. These options - as well as others where the payoff is calculated similarly - are referred to as "vanilla options". Options where the payoff is calculated differently are categorised as "exotic options". Exotic options can pose challenging problems in valuation and hedging.
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Option based on the average price of the underlying assets  during the life of the option.