A mountain range option in which some of the best and worst performing stocks are trimmed from the basket of underlying assets/ securities on a specific date up to maturity. On the one hand, an Atlas option, therefore, is similar to Asian option, in light of reduced volatility where the outliers (best and worst performers) are removed from the basket. On the other, it resembles a call option in terms of the payoff which depends on the performance of the remaining assets/ stocks in the basket at expiration date.