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What is ETO (Exchange Traded Option)?

 
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What is ETO (Exchange Traded Option)? How it is different from Shares (Equties)?

I googled it but not able to understand it. A simple explaination would be appreciated.

Thanks.
 
ankur rathi
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ETF (Exchange Traded Fund) is like basket of shares that can be purchased or sold, sort of Mutual Fund but can be traded on stock market.

For example, a banking ETF contains share of HSBC (15$), City (20$) and SC (5$) and 1 unit of this ETF can be purchased at 40$.

Am I right?

Thanks.
 
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