How is employee stock option different than standardized (ordinary) options?
Employee stock options are not tradable in exchanges unlike standardized options. Employee stock option terms are not standard for example company X gives employee A an option to own 100 stocks of the company @ 50 Rs. The same company gives employee B an option to own 2000 stocks of the company @ 35 Rs. Exchange traded options have standardized terms i.e lot size and strike price of a given contract is same for all investors.