Damian McCarthy’s directorial debut, Caveat (2020), is a psychological horror film that immerses viewers in an atmosphere of creeping dread and isolation. The film, while slow-paced in its early moments, builds tension with a haunted house formula that leaves many questions unanswered, but the fear it generates more than compensates for its narrative ambiguity.
Caveat Ending Explained
The story follows Isaac, a man suffering from amnesia, who is hired by an old acquaintance, Moe Barrett, to care for his disturbed niece, Olga. She is living alone in an isolated house after the traumatic death of her father, who committed suicide. Isaac’s task is to look after Olga, who is emotionally fragile and prone to violent outbursts. The payment is generous, which raises Isaac’s suspicions about the true nature of the job.

Upon arriving at the house, Isaac is confronted with a series of unsettling details. The property sits on a remote island, only accessible by boat. Adding to the strange nature of the job, Olga is highly paranoid and insists Isaac be chained to a post in the basement, which severely limits his movement within the house. This odd condition adds an additional layer of discomfort, intensifying the claustrophobic atmosphere.
The House and Its Dark Secrets
Isaac, despite his doubts, begins his uneasy stay at the house. The house is not only remote but also eerie, with a gloomy, decaying atmosphere. Isaac soon notices a dog outside that is also tied up, and a range of disturbing events begins to unfold. Olga’s behavior shifts between catatonic states and erratic bursts of aggression, especially as she clutches a crossbow her father had used to take his own life.
Olga’s troubled history is soon revealed, including her belief that her father’s intense claustrophobia led to his suicide, which was triggered by an incident where her mother locked him in a harness as a cruel joke. These unsettling revelations only add to the growing mystery of the house and the grim fate that seems to have befallen her family.
Atmosphere Over Jump Scares
What makes Caveat so unsettling is its focus on atmosphere rather than relying on traditional jump scares. The film creates a sense of unease through long silences, unexplained sounds, and visual oddities. The decrepit house plays a significant role, with creaky doors opening on their own and unsettling portraits shifting positions by themselves. Olga’s behavior is equally disturbing, as she often assumes a ‘see no evil’ pose during her strange episodes.
One of the most unnerving elements of the house is the presence of a bunny, whose glassy eyes seem to warn of impending danger. Yet, the source of this danger remains unclear—whether it is Olga, the house itself, or something far more sinister lurking in the shadows. The house’s narrow corridors and repetitive rooms amplify the feeling of being trapped, both for Isaac and the viewer. This claustrophobic atmosphere is compounded by the lack of context, leaving the audience to question what is real and what is a product of Isaac’s deteriorating mental state.

A Twisted Discovery in the Basement
As Isaac continues his exploration, he uncovers the rotting corpse of Olga’s mother hidden behind a wall in the basement. This discovery leads to an even darker revelation. Olga admits that Moe and her father were responsible for her mother’s murder, and she further shocks Isaac by revealing that he had been to the house before. About a year prior, Moe hired Isaac to lock his brother, Olga’s father, in the basement, knowing his claustrophobia would drive him to suicide.
Isaac’s memories begin to resurface as Olga shows him the red jacket he had left behind during his previous visit. She also contacts Moe, who confirms the grim story. As Isaac’s past comes into focus, the dark truth about his involvement in the tragic events becomes clearer.
The Chaotic Climax and Final Confrontations
In the film’s tense climax, Isaac manages to free himself from his chains by stealing the key from Olga’s deceased mother. Olga, however, attacks him in an attempt to prevent him from escaping. In the midst of their struggle, Isaac recalls the fateful day when he tried to warn Moe’s brother of the impending danger. After hearing noises from the basement, Isaac had tried to intervene but arrived too late. Moe’s brother had already ended his life.
When Moe visited Isaac two days later, he discovered the note Isaac had left for the victim, and in a fit of rage, he pushed Isaac off a balcony. This fall resulted in Isaac’s memory loss, which has only now begun to clear up as he uncovers the truth.
Isaac finds a passage leading back to the basement, where he becomes trapped with the decaying corpse of Olga’s mother. As he attempts to break through the wall, Olga and Moe appear on the other side. Olga shoots an arrow at Moe before locking him in the basement, setting the stage for a final confrontation.

Moe then tricks Isaac, pretending to ally with him to take down Olga. However, as Isaac reveals through an intercom that he has already escaped, the tension reaches its peak. The film’s conclusion is both haunting and ambiguous, leaving the audience to question the motives of each character. Was it Olga’s father’s guilt that led to his death, or did the spirit of his wife seek revenge?
The Unanswered Questions and the Meaning of It All
The film’s ending remains enigmatic, leaving many questions unresolved. The reasons behind the characters’ actions are never fully explained, and the motivations for their cruel behavior remain shrouded in mystery. What is certain, however, is that Isaac’s experience in the house has been both physically and mentally traumatic.
One of the most striking aspects of the film is the ambiguity surrounding the supernatural events. While the ghostly occurrences are deeply unsettling, they never cause Isaac direct harm. Whether these events are meant to scare him or push him toward the truth is left unclear, adding to the film’s sense of unease.
In the end, Caveat is a film that leaves viewers with more questions than answers. Its oppressive atmosphere and intense exploration of claustrophobia and fear make it a unique addition to the psychological horror genre. Though it leaves many elements to the imagination, the emotional and psychological journey of the protagonist remains unsettlingly powerful.