> 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/up-and-out-call-option.md).

# Up-and-Out Call Option

## **Up-and-Out Call Option: The Highwire Act**

Cheapen Right to buy when a modest rise expected but not a leap, walking a fine line between profit and knockout.

<figure><img src="https://4105275983-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FveNlPcq5FcdKaOERYyrV%2Fuploads%2FwuguhKfbkCpTW59dSTk9%2Fimage.png?alt=media&amp;token=d20fd131-3359-4e6d-9bd4-8f7f1f220e04" alt=""><figcaption></figcaption></figure>

Select Desired Direction: UP&#x20;

Knock OUT given expectation underlier will stay within barrier.