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Define: Plain Vanilla Options
Plain Vanilla Options are regular standardized exchange traded options that do not contain the kind of exotic terms that are found in exotic options such as binary options.
Plain vanilla options are the most commonly traded kind of options in the US stock market and if you are trading stock options, you are most probably trading plain vanilla options. Currently, exchange traded exotic options are mostly found in forex and commodities trading.
Read the full tutorial on Plain Vanilla Options.