The most common and most likely answer to this crossword clue is the 5 letter word YIKES
Y
I
K
E
S
More clues leading to the result YIKES
- OK to pinch one thousand pounds? Blimey
- Blimey, agreement holds central bookings back
- Agreement to carry one thousand leads to alarmed expression
- Good heavens! Yankee president succeeded!
- My pick occasionally cuts very well
- Watch out certainly, carrying one grand
- Positive statement containing evidence of one king in heavens above
Buddy explains!

The straight part
We know that "Watch out" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case watch out = yikes.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does YIKES mean?
YIKES interjection- Expression of shock and alarm.
- Expression of empathy with unpleasant or undesirable circumstances.