> For the complete documentation index, see [llms.txt](https://docs.ithacaprotocol.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ithacaprotocol.io/docs/ithaca-app/trading/stories/barriers/down-and-in-put-option.md).

# Down-and-In Put Option

## **Down-and-In Put Option: Guardian Angel Depth Charge** 

Cheapen downside protection by activating right to sell when market sinks below a certain level and detonating like a finely calibrated depth charge acting as a guardian angel; stepping in when the market falls too much.

<figure><img src="https://4105275983-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FveNlPcq5FcdKaOERYyrV%2Fuploads%2FCLvuhWwd228ZlLTgMgDK%2Fimage.png?alt=media&amp;token=5fa3c77d-dcb2-4f64-a33a-8ad8d7cfd255" alt=""><figcaption></figcaption></figure>

Select Desired Direction: DOWN

Knock IN given expectation underlier will move beyond barrier.&#x20;