Up-and-In Option
An option that can only be exercised when the price of the underlying asset reaches a set barrier level. This is a type of a knock-in barrier option. 
The prices of these options tend to be lower than "vanilla options" as the ability to exercise the option is contingent on breaking the barrier.
The prices of these options tend to be lower than "vanilla options" as the ability to exercise the option is contingent on breaking the barrier.
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