A double knock-in option which knocks in and becomes a vanilla option if the two barriers are hit during the monitoring period (window). If the two barriers are not touched, the option gives no payout. The window period starts as the trade is initiated and ends early before expiration date. This strategy can be employed by hedgers who expect the spot price would break out of a specific range in the short run. Likewise, it can be followed by investors who anticipate high short-term volatility and act accordingly.
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