Deferred Payment Option
An option with all the characteristics of an American vanilla option, with one exception: payment is deferred until the original expiration date.
Investopedia Commentary
The option can be exercised at any time however, payment is deferred until the original expiration date of the option. These options are considered long term options, with expiration dates at least one year away.
Related Links
Options Basics Tutorial
Gauging Sentiment with the Volatility Index
Going Long On Calls
Trading Puts - Going Short
See also: American Option, Asian Option, European Option, Exotic Option, Expiration Date, Option, Vanilla Option