# Down-and-Out Put Option

**Down-and-Out Put Option: The Bungee Jumper** 

Cheapen downside protection, risking Knock-out if the prices plunges past the barrier: ideal for a modest downdraft, not a rout.

<figure><img src="/files/DRQNmBO7FxEMX5ABoRR5" alt=""><figcaption></figcaption></figure>

Select Desired Direction: DOWN

Knock OUT given expectation underlier will stay within barrier.&#x20;


---

# Agent Instructions: 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:

```
GET https://docs.ithacaprotocol.io/docs/ithaca-app/trading/stories/barriers/down-and-out-put-option.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
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.