> 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/ratio-knock-out-forward.md).
# Ratio Knock-Out Forward
{% hint style="info" %}
The Knock-Out can be modelled as continuous throughout the entire period of the hedge, windowed between certain dates, or monitored solely at expiry.
The Ratio Knock-Out Forward is a variation which uses leverage to further improve the ITM Strike.
{% endhint %}
### **Payoff Diagram:**
### **Payoff at Expiry:**
At expiry if EURUSD fixes:
* Above the Knock-Out Barrier, the strategy is cancelled and the client will find itself unhedged.
* Above the Strike but below the Knock-Out Barrier, the client is fully protected at the Strike on 100% of the Notional.
* The profit on the derivative will fully net off against the loss on the underlying exposure.
* Below the Strike, the client will find itself obligated to trade at the Strike level on 200% of the Notional.
---
# 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/ratio-knock-out-forward.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.