Basisoption
Basisoption refers to a type of financial derivative known as an option where the underlying asset is a stock index or a broad market index. Unlike options that are based on individual stocks, basis options provide exposure to the performance of the entire market or a significant segment of it. The "basis" in this context relates to the underlying index, such as the S&P 500, Dow Jones Industrial Average, or NASDAQ Composite.
These options can be exercised to buy or sell units of the index at a predetermined price