What does binary option mean?

binary option meaning in Law Dictionary

letter alternative which includes a set pay off that starts when an index moves beyond a variety. AKA all or nothing option, wager choice, electronic choice, or one touch alternative.

binary option meaning in Business Dictionary

Futures alternative which includes a fixed payoff (distinction between the purchase cost as well as the exercise cost) triggered by the action of the underlying index below or beyond a range of values. Also called all or absolutely nothing alternative, bet option, electronic choice, or one touch option.