it's not that new....you know they have this type of options on forex right? Been trading this type of options on forex since 2003. In forex, you bet that a currency pair won't hit a certain level or that it will move past a certaing level. Ex. US/EUR: I'll bet $500 that it won't go past $1.6000 before May 31, and then the program calculates then tells me to put up premium of $450, where I make $50 if the US/EUR doesn't move past $1.6000 before May 31. I'll only make $50, because with the US/EUR at $1.5644, the odds of moving 4000 basis points in 2 weeks is low....Now it seems they are moving onto the equity options which isn't a bad idea, but it is more gambling now, and it gives the market an edge over individual players.