In the context of forex and other financial markets, a “no touch” option is a type of binary option where a trader bets on whether or not an underlying asset will reach a specified price level (the “barrier” or “trigger”) during a given period of time. If the asset price does not touch the barrier during the option’s lifetime, the option is deemed to be in the money and the trader receives a payout. If the asset price does touch the barrier at any time during the option’s lifetime, the option is deemed to be out of the money and the trader loses the premium paid for the option.