Typically, a special type of a barrier option which refers to an option trading strategy that combines two call/ put options on the same underlying but with different strike prices. A holder of a turbo option essentially aims to increase exposure to the underlying as the option increase in value and move in the money.
For example, if the strikes of two puts making up a turbo option are $50 and $40, the option holder might be exposed to price movements to the tune of 1 to 1. When the underlying price drops below $40, the exposure increases unproportionately by 2 to 1 and more.
