No touch definition
A no-touch option is a type of binary option where a trader would choose a strike price above or below the current market price and an expiration date. In order that you make a profit, the price of the underlying asset must not touch or exceed the strike price before the option expires.
What is a double no touch option?
With a double no-touch option, you as the trader receive a fixed payout if the underlying price remains within specified price boundaries until expiration. If the price touches or exceeds either of these two price boundaries, at any time, you lose what you paid for the option.