> 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/variations-on-barrier-options/discrete-knock-out.md).

# Discrete Knock-Out

A Discrete Knock-Out behaves like a normal Knock-Out option, but where the barrier is only active upon certain predefined fixing dates (typically daily based on Reuters pages, e.g., ECB37).