Excel Spreadsheets for Binary Options. This article introduces binary options and offers several pricing spreadsheets. Binary options supply the owner a set payout (which does not vary with the choices fee of the underlying device) or not anything in any respect. Most Binary options are European-fashion these are priced with closed-shape equations derived from a Black-Scholes analysis, with the choices payoff decided at expiry. Cash or Nothing & Asset or Nothing Options. Binary options can either be Cash or Nothing, or Asset or Nothing. A coins or nothing call has a fixed payoff if the inventory price is above the strike fee at expiry. A coins or not anything placed has a hard and fast payoff if the inventory fee is under the choices strike fee. If the choices asset trades above the strike at expiry, the payoff of an asset or or nothing call is same to the choices asset charge. Conversely, an asset or not anything has a payoff same to the choices asset charge if the choices asset trades below the strike fee. Two-Asset Cash-or-Nothing Options. These binary options are priced throughout two assets. They have four variations, based upon the relationship among spot and strike fees.