An option payoff that is equal to the asset's price if the asset is above the strike price, otherwise the payoff is zero.
Investopedia Says:
These types of options don't function like regular (plain vanilla) options that pay the difference between the exercise (strike) price and market price at expiry.
Related Links:
An introduction to the world of options, covering everything from primary concepts to how options work and why you might use them. Options Basics Tutorial
