Binomial Model

Here are the places where I have seen binomial being used:


Bond without option

Bond with call

Bond with put

Value of a call

Value of a put



In all this, I don’t think payoff is discounted one period to get the final node value. As far as I remember, I have seen in one of the interest rate binomial calculation, they had discounted one period and the reason given was that since payoff happens one period forward we have to discount the final value. Is there any other instrument I am missing here which gets valued using binomial?