# Documentation/Calc Functions/OPT BARRIER

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## Function name:

OPT_BARRIER

## Category:

Financial Analysis

## Summary:

Returns the pricing for a barrier option, calculated using the Black-Scholes option pricing model.

## Syntax:

OPT_BARRIER(**Spot**; **Volatility**; **Rate**; **Foreign Rate**; **Maturity**; **Strike**; **Lower Barrier**; **Upper Barrier**; **Rebate**; **Put Call**; **In Out**; **Barrier Monitoring**; **Greek**)

## Returns:

## Arguments:

**Spot** is the price / value of the underlying asset and should be greater than 0.0.

**Volatility** is the annual percentage volatility of the underlying asset expressed as a decimal (for example, enter 30% as 0.3). The value should be greater than 0.0.

**Rate** is the continuously compounded interest rate. This is a percentage expressed as a decimal (for example, enter 40% as 0.4).

**Foreign Rate** is the continuously compounded foreign interest rate. This is a percentage expressed as a decimal (for example, enter 50% as 0.5).

**Maturity** is the time to maturity of the option, in years, and should be non-negative.

**Strike** is the strike price of the option and should be non-negative.

**Lower Barrier** is the predetermined lower barrier price; set to zero for no lower barrier.

**Upper Barrier** is the predetermined upper barrier price; set to zero for no upper barrier.

**Rebate** is the amount of money to be paid at maturity if the barrier is hit.

**Put Call** is a string that defines whether the option is a put (“p”) or a call (“c”).

**In Out** is a string that defines whether the option is knock-in (“i”) or knock-out (“o”).

**Barrier Monitoring** is a string that defines whether the barrier is monitored continuously (“c”) or only at the end / maturity (“e”).

**Greek** (optional) is a string argument. If omitted or set to “value”, “v”, “price”, or “p”, then the function simply returns the option price. If another valid string is entered, the function returns price sensitivities (Greeks) to one of the input parameters. The valid options in this case are as follows.

- “delta” or “d”.
- “gamma” or “g”.
- “theta” or “t”.
- “vega” or “e”.
- “volga” or “o”.
- “vanna” or “a”.
- “rho” or “r”.
- “rhof” or “f”.

## Additional details:

For relevant background information, visit the Options (finance) and Black-Scholes model Wikipedia pages.

## Examples:

=OPT_BARRIER(30;0.2;0.06;0;1;40;25;0;0;"c";"o";"c") returns the value 0.4243.

=OPT_BARRIER(50;0.4;0.05;0;0.5;65;0;80;0;"p";"o";"c";"e") returns the value 10.1585.