- Warrants are derivative instruments that give the holder the right to buy an underlying asset (typically stock) at a specified price. - Swaptions are options on swaps, giving the holder the right to enter into a specific swap agreement. They are a form of derivative contract. - While a 'basket' is simply a collection of assets, in the context of financial markets, the term 'Baskets' often refers to derivative products based on such collections, such as basket options, which are multi-asset derivatives.