If you bought an Equity Call Option with a Down-and-In Barrier, are you Long Skew or Short Skew? Please provide explanation as well. Thanks.
If spot moves down towards Knock-In Barrier, I want high vol (to knock the barrier). Therefore, I'm long low strike (long skew).
Down-and-In Barrier Option = Long Skew
Down-and-Out Barrier Option = Short Skew
Up-and-In Barrier Option = Short Skew
Up-and-Out Barrier Option = Long Skew