Examlex
The smallest units of life are
Exercise Price
The price at which the holder of an option can buy (in the case of a call option) or sell (in the case of a put option) the underlying security.
Put Option
A financial contract giving the buyer the right, but not the obligation, to sell a specified amount of an underlying asset at a set price within a specified time.
In The Money
A term used in options trading to describe an option with intrinsic value - a call option with the underlying price above the strike price, or a put option with the underlying price below the strike price.
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