> 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/performance-knock-out.md).

# Performance Knock-Out

A Performance Knock-Out is a performance option that ceases to exist (is "knocked-out") if the underlying spot breaches a predetermined barrier before maturity.