> For the complete documentation index, see [llms.txt](https://eako-capital.gitbook.io/eako-user-guide/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://eako-capital.gitbook.io/eako-user-guide/barrier-options/types-of-barriers.md). # Types of Barriers ### American A barrier that is continuously observed throughout the life of the option. ### Discrete A barrier that is observed only at one or several predefined times (as opposed to continuous), typically on observable fixing pages. ### Single Single Barrier - any barrier option with one barrier which, if hit, will Knock-In (Knock-Out) the option. Single barrier options can be further categorised into sub-types: Out of the money barriers - this means that the option is OTM when the barrier is hit. In the money barriers - sometimes called reverse barrier options. These are options that have positive intrinsic value (are ITM) when the barrier is hit. ### Double Double Barrier - any barrier option with two barriers where, if either barrier is hit, will Knock-In (Knock-Out) the option. ### Sequential Any barrier option with more than one barrier where one or more of the barriers can affect the option differently. E.g., an option that can Knock-Out and/or Knock-In. Once knocked out it can never be knocked in. If first knocked in, it can still be knocked out later. ### Parisian A barrier option that requires a number of events to be triggered rather than just one. E.g., a Knock-Out option where the spot exchange rate must trade at or through the barrier for five consecutive days in order to be knocked out. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://eako-capital.gitbook.io/eako-user-guide/barrier-options/types-of-barriers.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.