In this article, the multitouch option, also called the n  touch option (or the “baseball” option when n  3 ) is analyzed and valued in closed form. This is a kind of barrier option that sets a gradual knockout / knock-in mechanism based on the number of times the underlying asset has crossed a predefined barrier in various time intervals before expiry. The higher the number of predefined time intervals during which the barrier has been touched, the lower the value of a knock-out contract at expiry, and conversely for a knock-in one. Multitouch options can be viewed as an extension of step barrier options, preserving the ability of the latter to adjust the exposure to risk over time, while eliminating the notorious danger of “sudden death” that holders of step barrier options are faced with. Unlike occupation time derivatives, the payoff at expiry does not depend on the amount of time spent outside the authorized range, but on the number of passages beyond the authorized range.

In the paper, by induction and recursively, the author proves that the generating function of multivariate logarithmic polynomials and its reciprocal are a Bernstein function and a completely monotonic function respectively, establishes a Lévy-Khintchine representation for the generating function of multivariate logarithmic polynomials, deduces an integral representation for multivariate logarithmic polynomials, presents an integral representation for the reciprocal of the generating function of multivariate logarithmic polynomials, computes real and imaginary parts for the generating function of multivariate logarithmic polynomials, derives two integral formulas, and denies the uniform convergence of a known integral representation for Bernstein functions.