Single Barrier Option

Options that depend not only on the final asset value but also on whether a certain barrier level was touched at some time during the life of the option. There are four types of single barrier options (each may be either a call or a put and have either European or American exercise features): an up-and-in Barrier option, a down-and-in Barrier option, an up-and-out- Barrier option and a down-and-out Barrier option