1) Mathematical finance 
In finance, an exotic option is an option which has features making it more complex than commonly traded vanilla options. Like the more general exotic derivatives they may have several triggers relating to determination of payoff. An exotic option may also include non-standard underlying instrument, developed for a particular client or for a parti...
Refers to options that are more complex than simple put or call options. For example, a Caput is a call option on a put option. Exotic options trade over-the-counter.
A variable whose value is determined outside the model in which it is used. Related
Any of a wide variety of options with unusual underlying assets or terms. For example, rainbow options depend on the amount by which one asset outperforms another.
Any of a wide variety of options with unusual underlying, strike price calculations, strike price determinations, payoff mechanisms or expiration conditions.