Up-and-in claim
= Up-and-in claim
{title2=$f(S_T)\mathbf1_{\{\sup_{t\leq T}S_t\geq b\}}$}
= Up-and-in option
{synonym}
An <up-and-in claim> activates when the <stock> reaches an upper barrier $b>S_0$ during its lifetime. After activation its terminal payoff is the prescribed function $f(S_T)$; without activation it pays zero. Under continuous <stock> paths the barrier event is described by the displayed running maximum.