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The diagrams show four pairs of polarizing sheets, with the polarizing directions indicated by dashed lines. The two sheets of each pair are placed one behind the other and the front sheet is illuminated by unpolarized light. The incident intensity is the same for all pairs of sheets. Rank the pairs according to the intensity of transmitted light, least to greatest.
In The Money
A term describing an option contract that has intrinsic value, indicating it's profitable to exercise it.
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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